MYOB IPO and ASX listing unlikely to weigh on Xero: ForBarr

Wed, 01 Apr 2015

By Suze Metherell April 1 (BusinessDesk) - The arrival of MYOB Group, the Australian accounting software firm, on the Australian Stock Exchange is unlikely to weigh on the dual-listed rival Xero's share price, says and analyst for sharebroking firm Forsyth Barr. The Melbourne-based firm yesterday announced its initial public offer, as it looks to raise total proceeds of between A$831.7 million and A$833.8 million to pay down debt, which stood at A$435 million at Dec. 31. Shares have an indicative price range of A$3 to A$4 apiece, which wo...

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