Xero Heads for Record High After Capital Raise: Wellington Mover
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Shares in New Zealand’s Xero Ltd. headed for a record high after the online accounting software company said it raised NZ$180 million ($150 million) to fund global expansion.
Xero sold 9.92 million shares at NZ$18.15 to a range of U.S. and New Zealand investors, the Wellington-based company said in a statement today. The stock jumped as much as 11 percent to NZ$19.90, the highest since listing in June 2007.