(The following statement was released by the company)
WELLINGTON, April 7 - New Zealand software company Xero Ltd said on Tuesday it planned to raise NZ$23.2 million ($13.6 million) through an issue of shares to strategic investors.
It said it would sell new shares at NZ$0.90, around 4.7 percent above the volume weighted average share price of Xero of NZ$0.86 per share over the 5 trading days prior to Xero's announcement on 2 April 2009.
Shares in Xero closed on Monday at NZ$1.14.
The proceeds of the issue will be used to accelerate its growth plans in Britain, the United States and Australia.
($1=NZ$1.70)
((Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212,
wellington.newsroom@reuters.com)) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
WELLINGTON, April 7 - New Zealand software company Xero Ltd said on Tuesday it planned to raise NZ$23.2 million ($13.6 million) through an issue of shares to strategic investors.
It said it would sell new shares at NZ$0.90, around 4.7 percent above the volume weighted average share price of Xero of NZ$0.86 per share over the 5 trading days prior to Xero's announcement on 2 April 2009.
Shares in Xero closed on Monday at NZ$1.14.
The proceeds of the issue will be used to accelerate its growth plans in Britain, the United States and Australia.
($1=NZ$1.70)
((Wellington newsroom tel +64 4 471-4234, fax +64 4 473-6212,
wellington.newsroom@reuters.com)) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.