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November 16, 2009

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IPO demand strong

Wednesday, June 23, 2004 | 10:40 a.m.

SAN FRANCISCO -- Shares of Salesforce.com Inc., an Internet-based seller of business software, rose as much as 43 percent in their first trading today after the company boosted its initial public offering to $110 million.

Salesforce.com rose $4.75 to $15.75 in New York Stock Exchange trading after the company sold 10 million shares at $11 each. Analysts said the issuance showed there's strong demand among investors for initial public offerings.

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