Feeds

NetSuite goes for IPO

Online auction

Top 5 reasons to deploy VMware with Tegile

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
Simplify SSL certificate management across the enterprise
Simple steps to take control of SSL across the enterprise, and recommendations for a management platform for full visibility and single-point of control for these Certificates.