CNET News.com: Red Hat IPO far from normal Aug 11, 1999, 17 :44 UTC (1 Talkback[s]) (4896 reads) (Other stories by Stephen Shankland)
"It's not your ordinary high-tech IPO."
"The initial public stock offering of Linux specialist Red Hat, scheduled for today, will be not only a seminal event for the Durham, North Carolina, company but also an important test of the 'open source' operating system's broad appeal. Red Hat's success could pave the way for VA Linux Systems, Caldera Systems, Linuxcare, and Cygnus Solutions to go public as well."
"Initial signs seem positive. The company released 6 million shares to institutional investors yesterday, expecting a price range of $10 to $12, meaning the stock offering would raise between $60 million and $72 million to finance Red Hat's expanding operations. But the company increased that estimate to $12 to $14 per share, meaning it would raise as much as $84 million."
"Public trading on the Nasdaq market is to begin today, according to a spokesperson for Goldman Sachs, an investment bank underwriting the initial public offering."
