Xero’s Rod Drury sells A$200m shares

Thu, 03 Sep 2020

The founder of cloud technology company Xero, Rod Drury, has sold 2 million shares in the ASX-listed business.Drury, via the Rodanna Ventures Trust, is selling a chunk of the trust's holding, he confirmed to BusinessDesk.The shares are reportedly being sold for A$99, a discount on the A$103 Xero’s shares were trading at on Wednesday, for about $A198 million.The Rodanna Trust held about 15.7 million shares before the sale. Rodanna’s trustees are Drury, Anna Drury and Scott Moran, Xero’s latest annual report showed.Drur...

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