Stock Watch: OnDisplay Doubles IPO Price Range

It looks like there is going to be another scorching-hot e-commerce infrastructure initial public offering this week. OnDisplay, which develops applications that allows businesses to create and manage online portals and marketplaces as well as automate e-commerce transactions, raised the price range of its IPO from $11 - $13 a share to $22 - $24 a share on Wednesday. The IPO is expected to be priced and begin trading today.

OnDisplay's customers include PurchasePro.com, Travelocity.com, Global Marine, Honda and Micro Warehouse. The company's partners include e-commerce infrastructure companies that have seen their stocks soar recently, such as Commerce One, Ariba and Broadvision (Nasdaq: BVSN). Demand is clearly high for this IPO, and the offering's relatively thin float and capable lead underwriter (Robertson Stephens) should also contribute to a significant premium whenever the stock opens for trading.

Renaissance Capital has tapped this offering as its IPO pick of the week. Ben Holmes of ipoPros.com, meanwhile, advises investors to "expect fireworks."