TECHNOLOGY : MORE ON TECH : Webvan Plans IPO

Webvan Group Inc., an online grocer, disclosed terms for its initial public offering that would place the company’s market value at about $3.8 billion. The Foster City, Calif.-based company will sell 25 million common shares at $11 to $13 each, according to an amended registration statement filed with the Securities and Exchange Commission. The company will have almost 317.5 million shares outstanding after the IPO, according to the filing, so the public will hold a 7.9% stake in Webvan, formed by Louis Borders, co-founder of the Borders Group Inc. bookstore chain.