Xero board approves share buyback of up to A$1 billion

Accounting software company Xero said its board approved an on-market share buyback of up to A$1 billion over 12 months. Xero disclosed the decision in its November 12 interim report filed with the Australian Securities Exchange. [evidence-1]

The company expects purchases to start on or after November 13. It said the share price and market conditions would determine when it buys shares. [evidence-1]