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ASX

Is Xero worth a cool billion?

Xero co-founder and CEO Rod Dury

Shares run up 18% in two trading days, pushing Xero's value close to the magic $1 billion mark - stretching traditional valuation measures for the $38 million revenue company. But Forsyth Barr has a different problem.

MYOB in $A125m capital raising

Tim Reed: An opportunity for investors

UPDATED: Accounting software firm releases details of a listed note offer, including Kiwis' ability to take part.

SFO charges options trader Greg Arnott with $2.5m fraud

The charges come after the white-collar crime investigator completes its probe into Derivatek NZ, which traded options on the ASX on behalf of New Zealand clients. 

Market close: Retailers Kathmandu, Warehouse lead local rally

New Zealand shares rise as part of a region-wide rally.

Market close: Shares rise, paced by Telecom, as higher yields draw demand

The biggest company on the bourse advances 2.4% to $2.38 and has a dividend yield of 12.8%.

Xero's ASX listing prospectus sees more losses

Xero 12-month NZX performance (S&P Capital IQ; click to zoom)

The Wellington-based has company lodged its prospectus for admission on the official list of the Australian Securities Exchange as a secondary listing, but does not plan to raise fresh capital at once.