NetSuite IPO Prices At $26 a Share
Business software company NetSuite Inc. on Wednesday priced its initial public offering of stock at $26 a share, higher than the company’s anticipated range of between $19 and $22 a share. NetSuite said it will trade under the ticker “N” on the New York Stock Exchange, beginning Thursday. NetSuite, a provider of business software via Internet subscription, had conducted a so-called “Dutch auction” that saw it raise its anticipated price range for the IPO twice in the past two days. Credit Suisse Securities acted as book-running manager for the IPO, while W.R. Hambrecht + Co. acted as co-manager, NetSuite said in a prepared release.
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