NZ Stock Exchange seeks explanation from Xero for its rapid share price rise, with a gain of 7.7% on 14 January 2014 alone

MENA FN.com / Australian Financial Review writes: Jan 16, 2014 (Menafn - The Australian Financial Review - ABIX via COMTEX) --The New Zealand Stock Exchange has sought an explanation from Xero for its recent rapid share price rise, with a gain of 7.7% on 14 January 2014 alone. The market capitalisation of the provider of cloud computing for accounting practices has grown A1.1bn to A4.5bn in the first two weeks of calendar 2014. Major stockholder Craig Winkler, who set up accounting software firm MYOB, made some A110m from its sale to private equity player Archer Capital in early 2009. He then bought Xero stock worth A15m that has now risen to A620m at the all-time high share price of A5.52.

Publication Date: 17 January 2014

XERO LIMITED - ASX XRO
MYOB TECHNOLOGY PTY LTD
ARCHER CAPITAL PTY LTD
NEW ZEALAND STOCK MARKET
NEW ZEALAND EXCHANGE LIMITED
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YAJILLARA TRUST

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