Friday, December 21, 2007

NetSuite affirms attraction of IPOs - The Boston Globe

Yeah, that was probably a pretty stressful morning...  It'll be fascinating to see how N closes today.

When trading began yesterday, it looked as if the IPO investors had buyer's remorse. The stock fell as low as $23.86 before rebounding strongly to finish at $35.50, up $9.50, or 36.5 percent.

That left NetSuite with a market value of $2.1 billion.

"This has been a surreal experience," Zachary Nelson, NetSuite's chief executive, said shortly after ringing the opening bell at the New York Stock Exchange. Nelson's 3.4 percent stake in NetSuite is now worth $73 million.

[...]

Ellison's NetSuite holdings are now worth $1.15 billion, enlarging his estimated $26 billion fortune before the IPO.

NetSuite affirms attraction of IPOs - The Boston Globe

Post a Comment