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NetSuite launches IPO auction

Industrial Distribution staff -- Industrial Distribution, 12/10/2007 7:22:00 AM

NetSuite Inc. launched a modified Dutch auction for its proposed initial public offering.

The San Mateo, Calif.-based business software provider said it plans to release the resulting stock price Dec. 19, after the stock market closes. The company will offer 6.2 million shares, with an option to release an additional 930,000 shares.

Executives went out on a so-called “road show” ahead of the auction, hoping to interest investors in the company’s stock.

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