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.
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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.
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