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NetSuite Up 36% in IPOPOSTED December 21, 2007 SAN MATEO -- NetSuite, a software company backed by Oracle kingpin Larry Ellison, went public yesterday at $26 per share and after falling below its opening price managed to close at $35.50 for a gain of more than 36%. NetSuite Inc. is a leading vendor of on-demand, integrated business management application suites for growing and medium-sized businesses. NetSuite enables companies to manage core key business operations in a single system, which includes Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), and Ecommerce. NetSuite's patent-pending "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information. The company sold 6.2 million shares in an auction-type offering. Credit Suisse Securities served as sole book-running manager for the offering, with W.R. Hambrecht + Co., LLC acting as co-manager. NetSuite trades on the New York Stock Exchange with the single letter symbol N. Larry Ellison, co-founder and CEO of Oracle, holds a 61% stake in the company. The company was founded in 1998. It reported revenue of $67.2 million in 2006. © Copyright SVDaily.com |
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