Not a happy holiday for salesforce.com, perhaps
Wall Street is hoping to present the market for initial public offerings with an early holiday treat: the highly anticipated share sale of software company NetSuite Inc.
Yesterday, the company, majority-owned by Oracle Corp. Chief Executive Larry Ellison and his family, set the terms of its offering, which could raise as much as $99.2 million, and prepared to begin meetings with prospective investors today. The trading debut is set for the week before Christmas.
Mr. Ellison is the company's largest shareholder. He and his family own a combined 74% of the company, a level that will decline to 66% post-IPO.