Feeds

NetSuite goes for IPO

Online auction

Boost IT visibility and business value

The long-rumoured and speculated Initial Public Offering (IPO) by Netsuite, the software as a service (SaaS) specialist, is at last underway. and it looks like it will use a novel way to determine the share price and the volume of shares to be issued.

The company has taken the first step in the IPO process by filling out a Form S-1 for the US Securities and Exchange Commission (SEC). This is the statement of intent to go for an IPO, and the actual process will only be initiated when the SEC has approved the application.

Till that point is reached there is, as part of the normal process in such matters, no word from the company or its advisors, Credit Suisse Securities (USA) LLC (acting as sole book-running manager for the offering) and WR Hambrecht + Co (acting as co-manager of the offering) as to the expected offer price or the number of shares to be issued.

But such numbers will also be determined by an online auction process NetSuite plans to use to gauge the number of shares it ought to issue and the price of each share. According to the company's statement on the SEC website, the plan is to use a "technology enabled" process to "conduct an auction to determine the initial public offering price and the allocation of shares in the offering. We plan to conduct this auction in five stages - Registration; Bidding; Auction Closing; Pricing; and Allocation. Investors that do not submit bids through the auction process will not be eligible for an allocation of shares in our offering."

Further details of the technology enablement required are not given, but anyone wishing to make a bid will have to start by contacting Credit Suisse, which may mean opening an account with the bank. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.