Rod Drury cashes out A$300m of Xero shares

Rod Drury has become a keen advocate for his Queenstown home. (Image: QLDC)

Wed, 25 Aug 2021

Xero founder Rod Drury has cashed in another A$300 million of stock, leaving him with a 6.7% stake in the A$22.3 billion behemoth.Drury’s family trust sold 2 million shares at A$150 apiece in off market trading, continuing the tech billionaire’s selldown of his stake since he stepped back from the limelight chief executive role.That will leave his family trust as Xero’s third-largest shareholder behind HSBC Custody Nominees and JP Morgan Nominees, although because of its unusual nature in being New Zealand-domiciled and ASX-li...

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