Spurred on by recent IPO successes in the internet sector, DoubleClick Inc, the New York-based internet advertising company, has filed for a further offering of 2.5 million new shares, representing around 15% of the company’s existing share capital. At Wednesday’s closing price of $35.89, the offer would raise $9m before expenses. Underwriters have also been granted a 375,000 share over allotment option. The news follows high profile IPOs from Theglobe.com Inc and Earthweb Inc, both of whose shares opened at a substantial premium to the offer price. DoubleClick’s own IPO in February this year resulted in a 57% gain on the opening day and in its most recent quarter, the company doubled its losses to $4.7m while revenues rose 154% at $20.8m. At the beginning of November, Microsoft Corp announced it would pay $250m for LinkExchange Inc, another seller of banner advertising on the internet.
