Xenos stock soars on increased exposure
TORONTO, Nov 8 (Reuters) - The stock market took notice of tiny software developer Xenos Group Inc. (Toronto:XNS.TO - news) on Monday, sending shares up more than 28 percent after the Toronto-area firm made a splash at a high-profile industry trade show.
Xenos, which develops software used to present documents such as bills over the Internet, added C$3.15 on the Toronto Stock Exchange on Monday to end the session at C$14.25.
Founded in 1980, Xenos has hit a high of C$11.50 and a low of C$7.80 on the exchange since its listing in August.
The company did not release any news on Monday, said Chief Executive Stuart Butts, but the firm's story is gaining exposure.
Nearly one-third of its 90 staff attended the Xplor International trade show for electronic publishing in Las Angeles last week, he said.
''This was our coming out because we really know that the market is about to emerge. The people we have been selling to in the last year or so are really early adopters,'' said Butts.
''The theory is that over the next two to five years, basically, the whole wide world is going to become wired, or connected. And we're going help people deliver their documents.''
Xenos struck a partnership deal in October with International Business Corp. to supply and sell technology that companies can use to exchange documents on the Internet.
The firm has also made sales to Bell Canada, Bear Stearns, Bank of New York, Merrill Lynch and Manulife Financial. Canada Post will use Xenos technology to help it deliver electronic mail.
($1=$1.47 Canadian)
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