Xero breaks through $2b mark
Xero is worth only $32 million less than Sky Television after the market capitalisation of the cloud computing company crashed through the $2 billion barrier yesterday.
The company's shares closed up 74 cents or 4.4 per cent at $17.49, valuing the firm at $2.05b.
Chief executive Rod Drury's 18.5 per cent stake in Xero is now worth $379m.
Drury professed indifference to Xero's sharemarket value yesterday morning. First NZ Capital analyst James Schofield said he was not aware of any news behind yesterday's jump.
- The Dominion Post