3Com is doubling the price offering for its Palm spin-off to $30 per share.

The IPO (initial public offering) could be as early as this week.

Brian Johnson, a 3Com spokesman, said the higher asking price resulted from an anticipated increase in demand for the new stock. Johnson would not comment on exactly when Palm would start trading on the Nasdaq Stock Market.

3Com will retain a 90 per cent interest in the new company. Separating the 3Com brand from the Palm brand will enable 3Com to better focus on its core networking businesses, Johnson said.

Earlier, 3Com announced that Carl Yankowski, former president and chief executive officer of Sony Electronics, would serve as Palm's CEO.