On a bad day for internet-related initial public offerings (see today’s story about Asymetrix Learning Systems Inc), internet advertising network company NetGravity saw its IPO get away with a whimper, rather than the bang most investors that track internet stocks have been used to. The San Mateo, California offered 3.0 million shares at a target price between $9 and $11. They only opened at $9.25, just above the low-end of the target price, hit highs and lows of $10.1875 and $9.25 before closing at $9.75, a gain of 8.3%. Not all the shares were sold either, as the trading volume was only 2,572,600. By contrast NetGravity competitor DoubleClick Inc saw its shares rise 57.4% on their first day of trading back in February (CI No. 3,353). The offer was managed by BancAmerica Robertson Stephens, NationsBanc Montgomery Securities LLC and First Albany Corp.
