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More NetSuite Sold

Spead the word...

Apr 06,2008 by shab

image

The software maker NetSuite and its investors have sold an additional 930,000 shares. The stock, which had risen 49 percent since going public Dec. 20, fell 6.6 percent on Wednesday.

Credit Suisse and WR Hambrecht & Company, the underwriters of NetSuite’s initial public offering of stock, exercised options to buy the shares, bringing the total value of the offering to 5.4 million. The offering is now closed, NetSuite said Wednesday.

NetSuite, based in San Mateo, Calif., is majority owned by Oracle’s chief executive, Lawrence J. Ellison. It makes programs for small companies to manage accounting, inventory and sales tasks over the Internet.

Shares of NetSuite dropped .55, to .20.



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