UPDATE2 Drury says $180M capital raise ‘sends strong signal’ to rivals; shares soar

Sun, 13 Oct 2013

(Updates to show shares rose to a record when they resumed trading) Oct. 14 (BusinessDesk) – Rod Drury, founder of Xero, says the cloud-based accounting company $180 million capital raising from key US shareholders sends a strong signal to rivals that there are no constraints on the funds it needs to win global market share. The shares jumped 9.8 percent to $19.70 and earlier touched a record $19.90 when they resumed trading, after being halted for the capital raising. The company sold 9.92 million shares at $18.15 apiece, or 1.1 percent abo...

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