NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Business / Markets / Shares

Rod Drury: Why Xero is leaving the NZX

By Rod Drury
NZ Herald·
12 Nov, 2017 02:00 AM5 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Xero's new five storey Wellington headquarters. Photo / Supplied

Xero's new five storey Wellington headquarters. Photo / Supplied

Xero's stock exchange listing in 2007 created a platform for our early success and the ability to deliver on our strategy so far to build a significant global business from New Zealand.

We feel strongly the pathway we've created is one other New Zealand tech companies should emulate - list locally to establish a track record and form vital long term relationships, and interact with the supportive local market while you build scale and credibility.

Since our initial public offering in 2007 we have brought Silicon Valley to New Zealand's capital markets, adding strategic investors to our register like Sequoia, Accel, TCV and many other US tech funds. Some of our investors subsequently invested in other New Zealand companies.

We have been able to showcase New Zealand technology globally and proven the NZX can be a great incubator for technology businesses. The early support we received through our listing allowed Xero to expand and contribute significantly to the New Zealand economy, with more than 1,000 people now employed here and strong New Zealand hiring growth targeted.

Xero has been dual listed across NZX and ASX since November 2012. Our decision to consolidate the two listings onto the ASX and delist from NZX sets a new platform to support the next phase of our long term future growth.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

This is the logical next stage of our strategy to ensure that we can attract strategic global growth investors who own significant stakes in other global platforms that we now consider peers, and who are under-represented on our share register currently.

The move to sole ASX listing is a sign of Xero's success on the NZX and testament to the NZX as a strong proposition for growing technology companies. For us, we believe our next growth phase suits a sole ASX listing.

Xero's listing on the NZX was a new playbook for New Zealand companies. It was novel at the time, and the vision and support of Rob Cameron at Cameron Partners and Scott St John then at First NZ Capital helped us establish the platform we needed to build foundations for scale.

Advertisement
Advertise with NZME.

Xero was a start up, birthed completely in public. We listed with 100 customers and our first year of revenue was just over $100,000. From that small beginning we have tried to lead by example, with clear reporting and open and well attended shareholder events. We have openly communicated our strategy and made ourselves available for questions. We are one of New Zealand's most commented on companies and enjoy the many robust discussions and feedback.

With 10 years' experience we learned our NZX listing strategy took few, if any, options off the table including our latest move to consolidate on ASX.

By contrast we have seen other companies struggle by skipping the NZX, arriving in Australia and just not being noticed. Xero, with more than 500,000 subscribers in Australia, facilitating payments and interactions with millions of Australians every day, is already a recognised brand, so is better positioned than other New Zealand tech companies in our neighbouring market.

Our strategy and execution has delivered outstanding returns to those who have supported our dream from the beginning. This move to consolidate our listing is a necessary next step in fuelling the next phase of this growth to enable us to continue delivering for shareholders.

Discover more

Small Business

What's next for Xero

16 Sep 03:26 AM
Business

Hailed Kiwi tech company Xero quits NZ sharemarket

08 Nov 06:15 PM
Business

Xero's NZX departure 'psychological blow'

08 Nov 07:40 PM
Business

Alibaba's whopping $36.4b Singles' Day

12 Nov 08:47 PM

Xero is an aspirational New Zealand business with an unparalleled global opportunity and remains New Zealand headquartered and domiciled. The reasons that are compelling for us to continue building our workforce in New Zealand do not change as we consolidate our shares to a sole ASX listing.

However, while more than half of our 1,800 people who are based across 20 international offices are in New Zealand, around 80% of our revenue now comes from outside New Zealand. Our 1.2 million subscribers are from 180 countries and our leadership team is truly global.

We've moved on from simple accounting software that we made in 2007; we're now a global business platform and community. We have enormous aspirations in international markets not dissimilar to tech giants you think of like Amazon and Google.

We are committed to building one of the greatest tech companies on the planet and our people arrive every day with a passion to make a difference and deliver on the promise.

We have a clear plan and we are executing strongly on it, as evidenced by our recent financial results. We expect to continue growing for many years to come; the opportunities ahead of us are boundless.

The past 10 years have been successful and as Xero, a New Zealand company, moves into its next chapter, we hope all of New Zealand remains with us as we aim to achieve something truly great on the global stage.

Advertisement
Advertise with NZME.

- Rod Drury is the founder and chief executive of Xero.

Save

    Share this article

Latest from Shares

Premium
Shares

Market close: Fisher & Paykel up as NZ sharemarket closes strongly

Premium
Shares

Market close: High volumes of Infratil lift market after ASX 200 inclusion

Premium
Shares

Market close: Tourism Holdings bounces as NZX trades flat


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from Shares

Premium
Premium
Market close: Fisher & Paykel up as NZ sharemarket closes strongly
Shares

Market close: Fisher & Paykel up as NZ sharemarket closes strongly

The NZ sharemarket rallied today as key weighted stocks had strong performances.

17 Jul 06:13 AM
Premium
Premium
Market close: High volumes of Infratil lift market after ASX 200 inclusion
Shares

Market close: High volumes of Infratil lift market after ASX 200 inclusion

16 Jul 05:49 AM
Premium
Premium
Market close: Tourism Holdings bounces as NZX trades flat
Shares

Market close: Tourism Holdings bounces as NZX trades flat

15 Jul 05:47 AM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP