Gaynor’s Milford kicks $16mln into Xero’s $180 mln capital raising

Tue, 15 Oct 2013

By Paul McBeth Oct. 15 (BusinessDesk) - Milford Asset Management, with more than $2 billion under management, participated in Xero’s $180 million capital raising this week, building a 0.7 percent in the stock exchange’s eighth biggest company. A number Milford’s funds, including Trans-Tasman Fund, Dynamic Fund, Active Growth Fund and Active Growth KiwiSaver Fund, contributed $16 million at $18.15 a share in Xero’s placement this week, having invested in the company on and off over the past few years. Xero sold 9.92 million shares to build a...

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