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Reuters: Red HAT sets IPO at 6 million shares

Jul 16, 1999, 16:36 (5 Talkback[s])

"Software firm Red Hat Inc. said Friday it would sell up to 6 million common shares at an estimated $10 to $12 a share in its first-ever sale of stock to the public."

"The Durham, N.C.-based company gave the figures in an amended initial public offering filing with the Securities and Exchange Commission. Previously, it had not disclosed the amount of stock to be sold or the estimated selling price."

"The company has applied to trade on Nasdaq stock market under the stock symbol `RHAT' and is tentatively scheduled to begin trading the week of August 9."

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