They mentioned such possibilities at the Wellington AGM. XRO are securing world wide appeal - even tho not marketing in many countries. South Africa was another one mentioned as I recall. I wonder if there are thoughts off (say) Spanish versions?
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The trading prior to the large CR in Feb under investigation by FMA.
And so it should be. I don't believe in coincidences !
http://www.nzherald.co.nz/business/n...ectid=11509757
Yes it was a huge huge "coincidence" as well... will be interesting to see what the investigation yields. I am glad for now that I am no longer involved in XRO
(Disclosure: Brought at $17, sold at $42, 6 months later)
Could someone please give me an overview on this article especially this part "Some more on the possible timing of a Nasdaq listing, and why it's so important." which appears below the headline http://www.nbr.co.nz/opinion/when-xe...bit-high-drury.
The section on listing:
Quote:
His other benchmarks before a US listing are:
- Passing $US100 million in revenue — which was a tick before our currency slid back. Xero has already said its revenue will increase from $120 million to $200 million in its current financial year, so it should sail past that one - again);
- Hiring a world-class CFO. Again, tick. After various top-level false starts, Sankar Narayan is due to start in the role shortly); and
- The sharemarket improving and becoming more receptive to growth stocks — far from a tick at this point. Mr Drury says the middle of next year will be the earliest that market conditions are likely to favour a US listing.
And he reiterated a US IPO is something Xero still very much wants to do.
The section on listing:
Quote:
His other benchmarks before a US listing are:
- Passing $US100 million in revenue — which was a tick before our currency slid back. Xero has already said its revenue will increase from $120 million to $200 million in its current financial year, so it should sail past that one - again);
- Hiring a world-class CFO. Again, tick. After various top-level false starts, Sankar Narayan is due to start in the role shortly); and
- The sharemarket improving and becoming more receptive to growth stocks — far from a tick at this point. Mr Drury says the middle of next year will be the earliest that market conditions are likely to favour a US listing.
And he reiterated a US IPO is something Xero still very much wants to do.
"We love being listed and being listed in new markets really helps with PR and marketing because people talk about you [but] we’ve got plenty of capital so there’s no urgency to do it.
“We don’t need to raise money with an IPO. We have enough cash to get through to break even. But if we choose to, we could put the accelerator down further. Because if we did do an IPO we’d probably have to raise another $300 million or so."