Online accounting software
provider Xero has become a $4 billion company.
After opening at $30.13 this morning, shares in the
Wellington-based firm rose 4.8 per cent to reach $31.69 just
before midday, giving the business a market capitalisation of
The company's value now lags only behind Fletcher Building
($6.6b), Auckland Airport ($4.6b) and Telecom ($4.3b).
It's been less than three weeks since Xero's valuation passed
through the $3b mark.
The company's announcement last month that it had raised $180
million of new capital from high-profile investors including
Facebook billionaire Peter Thiel sparked a major rally in the
- By Christopher Adams
of the NZ Herald