But feel free to respond if you like…
How often does Rod thank his lucky stars that Xero IPOd when it did. Look what the NZX is doing today….
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Good news for Rod, not so for those investors that were fleeced for equity priced at $1 a share.
I welcome a free market with minimal regulation and certainly acknowledge that investors can to choose where they place capital, but really, this was an over priced and over hyped float.
I like the Xero business model and am tempted myself to pick up some stock at the more realistic 70 cent level.
Shaneo
Shaneo
I think fleeced is a little harsh, don’t you?
Shaneo,
Given that the plan was to raise 15 million only would you have preferred that Xero sold 30 million at 50 cents each?
The word “fleeced” is only used by those that can’t see the strategy that lay behind the float itself – get the working capital in place to make sure the job can get done properly, and the instant credibility needed when dealing with accountants half a world away.