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Xero remains focused on its strategic priorities around product development and continuing to expand its geographic footprint and we are excited about the opportunities ahead.
The sole ASX listing provides the right platform for the next phase of our growth. This page contains information for shareholders, and we will post any new information here as it becomes available. The ASX is one of the leading exchanges in the Asia Pacific region and is supported by a large number of international investors.
It is expected to create a deeper market for Xero shares. This would mean investors who want to buy or sell Xero shares can do so in greater volumes and more easily. The potential for inclusion in major ASX indices is expected to facilitate increased investment interest over time, and to place Xero on the radar of an expanded pool of potential investors interested in growth companies.
In the medium-term, Xero expects increased analyst and broker coverage will increase the company's profile among a wider range of potential investors globally. You do not need to take any additional action. For shareholders that want to now trade Xero shares on the ASX, please contact your broker well in advance of when you want to trade. Your broker will require your SRN. More details are in the shareholder FAQs below. There should not be adverse tax implications for New Zealand based shareholders.
Xero will remain a New Zealand resident company. Shareholders should of course seek independent tax advice. The sole listing on the ASX is expected to then commence on the opening of the next trading day, Monday, 5 February If you are an existing shareholder and hold Xero shares on the NZX, your shares will be automatically transferred to the ASX prior to the opening of trading on Monday, 5 February You do not need to take any action to facilitate this process.
If you currently hold Xero shares on the ASX, nothing will change with respect to your holding. You do not need to take any action. The process will happen automatically for all NZX shareholders on the register, and there will be no fees payable by NZX shareholders for the transfer.
Just as your Xero shares are currently traded at the market price on the NZX, after the transfer, your shares will trade at the market price on the ASX. Xero does not control the share price. Why is Xero moving to a full dual listing ie. The interim full dual listing is being undertaken to facilitate an orderly transition to a sole listing on the ASX for market participants. Xero does not currently pay a dividend, therefore this is not a consideration.
Should the Board in the future consider a dividend, it will ensure that the process is as simple as possible for all of our shareholders.
I am a New Zealand based shareholder. How will exchange rates impact the value of my shareholding? After the transfer, your Xero shares will be solely traded on the ASX and therefore traded in Australian dollars.
This means that exchange rate movements could impact the amount in New Zealand dollars that you receive on the sale of any Xero shares, even if there is no change in the underlying share price. Yes, if you want to, you can move your shares to the ASX now. Your shares can be moved by either:. This will need to be facilitated by a broker. If your current broker has the capability to trade on the ASX, you can continue to trade through them if you wish.
The conversion process can take a few days, so allow this time before you want to trade. Your broker may charge a fee for the conversion. For more information see here. The main differences between a HIN and a SRN is that you will only have one HIN for each broker that identifies all of your holdings in all of the companies you have invested in. For shareholders who already have an HIN, this will remain the same.
On the day of the commencement of the sole listing, you will no longer have Xero shares on your New Zealand Holder Number and you will no longer require it. You will receive a holding transaction statement with a new SRN from Link.
You will need to access the Link Australia Investor Center. To log-in, you will be required to enter your HIN or SRN, as well as your country of residence, or if you live in Australia, your postcode. If you have already created a New Zealand Investor Center portfolio, you can add your Xero shares on the Link Australia Investor Center by logging into the Investor Center using your current New Zealand portfolio details email and password.
Link stores all your past information for up to 7 years, so if you need any historical information about your holdings Link will be able to provide this to you. Yes, when you trade your shares is up to you. You will continue to receive communications from Xero via Link and we will continue to keep you informed about the shift to a sole listing on the ASX.
Your preference to receive electronic or postal communications will remain as you have previously elected, and communications will come through the Link team based in Australia. The information on this page is for general information purposes only, and is not an offer or invitation for subscription, purchase, or recommendation of securities in Xero Limited Xero. This page may also contain information from third parties believed to be reliable; however, no representations or warranties are made as to the accuracy or completeness of such information.
You're on the site. A brief description of your business. You'll hear from soon. Oops… something went wrong. There was an issue contacting. Access to a larger market The ASX is one of the leading exchanges in the Asia Pacific region and is supported by a large number of international investors.
Increased liquidity It is expected to create a deeper market for Xero shares. Increased relevance to a more diverse range of larger investors The potential for inclusion in major ASX indices is expected to facilitate increased investment interest over time, and to place Xero on the radar of an expanded pool of potential investors interested in growth companies.
Broader analyst and broker coverage In the medium-term, Xero expects increased analyst and broker coverage will increase the company's profile among a wider range of potential investors globally.
What is the process? What is the impact on NZX shareholders? Do I need to do anything? What is the impact on ASX shareholders? The number of shares that you own will remain the same. What happens to my voting rights? Your voting rights will remain the same. When you have a sole listing on the ASX will you pay a dividend and in what currency?
Your shares can be moved by either: Completing and returning a Request for Removal of Securities Form that can be downloaded here ; or Contacting your current NZX broker if you have one to arrange the transfer. What happens to my New Zealand Holder Number? Can I still view my shares on the Link New Zealand website? Can I trade my shares on the NZX prior to the delisting? Who can I contact for further information?
Contact Link Market Services: