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NetSuite Closes IPO at $26 per Share |
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Wednesday, 26 December 2007 |
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NetSuite's IPO pulls in over $185 million, much more than expected.On-demand enterprise resource planning vendor NetSuite said Dec. 26 that it has closed its initial public offering. The much-vaunted IPO, launched Dec. 10, has raised $185.4 million in the sale of 6.2 million shares at $26 each—a take that far exceeds the companys initial expectations.
NetSuite's IPO pulls in over $185 million, much more than expected.On-demand enterprise resource planning vendor NetSuite said Dec. 26 that it has closed its initial public offering. The much-vaunted IPO, launched Dec. 10, has raised $185.4 million in the sale of 6.2 million shares at $26 each—a take that far exceeds the companys initial expectations. NetSuite officials said in a Dec. 6 statement that they expected shares to price out at between $13 and $16 each during the IPO to raise a total of about $80.9 million. The company is majority-owned by Oracle CEO Larry Ellison and his family, which owned about 74 percent of NetSuite prior to the IPO, a percentage that is expected to drop down to about 66 percent post-IPO. This story continues here. |
