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OFX Group Limited (ASX:OFX)

ALERT: Price-sensitive ASX Announcement for OFX
Current share price for OFX : $0.535 0.055 (11.46%)+
Announcement
Release
5 Feb 2026 8:23AM
Price at Release
$0.480
Full Release
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Summary
OFX Group Limited announced a strategic review to explore potential growth options, both organic and inorganic, in response to increased market interest and to maximize shareholder value. The company noted that, despite progress with its OFX 2.0 strategy, core business topline growth remains subdued. A strategic partnership with Goldman Sachs Australia has been formed to assess various strategic options, including a possible sale. In their 3Q FY26 trading update, OFX reported a decline in net operating income due to macroeconomic softness and stable but lower-than-expected client activity post-migration to the New Client Platform (NCP). Nonetheless, non-FX revenue showed significant growth. Additionally, OFX announced the resignation of CFO Selena Verth, who will stay until June 2026 to ensure a smooth transition and support the strategic review.
Key Points
  • OFX Group Limited commenced a strategic review to explore growth opportunities.
  • Goldman Sachs Australia appointed as financial advisor for the strategic review.
  • Net Operating Income declined due to a softer macroeconomic environment and low client activity.
  • Non-FX revenue grew by 44% compared to the previous quarter.
  • CFO Selena Verth announced her resignation, effective until June 2026.
  • Strategic review may consider a potential sale among other options.
  • Client migration to the New Client Platform impacted trading activities temporarily.
  • OFX continues to execute its 2.0 strategy despite subdued core topline growth.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.