Netsuite successfully lists in New York
Online accounts provider goes public in New York
NetSuite this week announced the initial public offering of 6,200,000 shares
of its common stock at a price of $26.00 (£13.08) per share in New York.
CEO Zach Nelson rang the opening bell at the New York Stock Exchange as the
California-based online accounting developer followed other Software as Service
firms such as salesforce.com onto the public markets.
Experts believe that several other SAAS providers may also pursue listings
over the next year.
Credit Suisse Securities served as book runners for Netsuite, which enjoys
the backing of Oracle chief executive Larry Ellison.
Further reading:
NetSuite IPO adds to SaaS appeal
SaaS makes its presence felt in new
areas