Xero shares drop below last year's $18.15 share issue price as escrow ends

Mon, 13 Oct 2014

By Suze Metherell Oct. 13 (BusinessDesk) - Shares of Xero have fallen below $18.15, the price that the cloud-based accounting software firm last year sold its stock at as part of a $180 million capital raising, as those investors come off share trading restrictions. On Oct. 16 last year, the Wellington-based company issued 9.92 million shares at $18.15 apiece, to Matrix Capital Management, Peter Thiel-backed Valar Ventures and other US investors, as part of a capital raising to fund its growth plans in the US market. The escrow period whi...

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