Clearly Mr Dury didn't want the currency risk of a sole ASX listing either.... ;-)
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Clearly Mr Dury didn't want the currency risk of a sole ASX listing either.... ;-)
XRO's most immediate rival right now is MYOB at the moment. MYOB is a ASX200 company while XRO is ASX300.
Many customers would form a view based on this that MYOB is one tier higher than XRO hence more successful and better than XRO. So what's been said about the reason to move to ASX does make some good sense.
I truly hope kiwi investors can see the bigger picture and realise the currency thing is so trivia in the overall schema of things. In terms of fund managers, there are a lot more of them across the ditch, with much more money.
and MYOB just bought an add on company for circa $130 mill a couple of days ago !!
https://www.stuff.co.nz/business/ind...of-xero-shares
I shouldn't be judging, but the comments left under the news are pitiful.
Not an apple to apple comparison.
In the cloud application service market, market position is the number one thing as most customers won't dive deep to understand the difference of the products. Decisions are often made by superficial subjective views. If Xero is not in the top tier, many won't even consider it full stop.
MYOB has just released their 2017 Investor Presentation material, in there, they rated Xero being an "Occasional Competitors", which is at the bottom tier of the Cloud Accounting competitors. There are SEVEN other products they listed above Xero.
In Australia along, MYOB runs more than 50 events each year talking to many thousands of accountants, and show them this type of information.
It's more about telling the story, less about the product.
F&P healthcare is different.
Significant larger volume of XRO share trading on ASX today, which is a good sign.