NetSuite IPO roadshow expected to start Thursday
NEW YORK Dec 5 (Reuters) - Management of NetSuite Inc, a business software maker majority-owned by Oracle Corp ORCL.O Chief Executive Larry Ellison, is about to kick off meetings with investors, ahead of the company's planned initial public offering.
The investor meetings, commonly referred to as a "roadshow," are expected to begin on Thursday, according to a source familiar with the plans.
On Wednesday, the company said it plans to raise up to $99 million with an offering of 6.2 million shares, according to an amended registration statement with the U.S. Securities and Exchange Commission.
Companies selling shares to the public for the first time generally launch roadshows in the two weeks before a final price is set for an initial public offering.
NetSuite's IPO is to be done in an auction format, a process by which investors, rather than underwriters, have more say than is typical in the final pricing of the offering.
(Reporting by Lilla Zuill, editing by Dave Zimmerman)
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