Hot IPO: NetSuite Boosts Price Range Again
What's up with NetSuite, due to go public at the NYSE tomorrow? The company, which provides business management software, has boosted its IPO price range for the second time in as many days.
The company now plans to price their offering of 6.2 million shares at a range of $19 to $22, up $3 from yesterday's revised range of $16 to $19. The company originally planned to offer their shares at $13 to $16.
This is Larry Ellison'sbaby--he and his family owns about 74 percent of the company, and the association with him may be a major factor. It still loses money. Bear in mind this is a Dutch Auction.
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