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The latest announcement is out from Xero Limited ( (AU:XRO) ).
Xero Limited has successfully completed a fully underwritten institutional placement, raising A$1.85 billion to fund its acquisition of Melio Limited. This strategic move aims to enhance Xero’s accounting and payments offerings, aligning with its 3×3 strategy and US expansion goals. The placement involved issuing approximately 10.5 million new shares to institutional investors, with trading expected to resume soon. Additionally, Xero plans to offer a share purchase plan to eligible shareholders, targeting to raise A$200 million for general corporate purposes.
The most recent analyst rating on (AU:XRO) stock is a Buy with a A$170.00 price target. To see the full list of analyst forecasts on Xero Limited stock, see the AU:XRO Stock Forecast page.
More about Xero Limited
Xero Limited is a company operating in the accounting and payments industry, offering cloud-based accounting software solutions. The company focuses on providing innovative financial management tools to small and medium-sized businesses, with a strong market presence and ambitions to expand further into the US market.
Average Trading Volume: 435,720
Technical Sentiment Signal: Buy
Current Market Cap: A$29.81B
For detailed information about XRO stock, go to TipRanks’ Stock Analysis page.