:DowJones.com: Linux-Driven Red Hat Makes Sizzling Debut, While Other IPOs Sputter
DowJones.com: Linux-Driven Red Hat Makes Sizzling Debut, While Other IPOs Sputter Aug 11, 1999, 23 :06 UTC (0 Talkback[s]) (3617 reads) (Other stories by Dow Jones Business News)
"The eagerly anticipated stock offering from Linux
distributor Red Hat Inc. warmed chilled IPO waters Wednesday, with the
shares closing at more than triple their offering price."
"But three other stocks making debuts Wednesday came nowhere near Red
Hat's showing, reflecting the recent trend of underwhelming first-day
performances that has prompted several companies to delay or cancel
impending initial public offerings."
"Based on the 66.8 million shares outstanding after the offering, Red Hat has
an estimated market value of about $2.96 billion. Underwriters were led by
IPO heavyweight Goldman Sachs & Co."
"Regardless of the degree of enthusiasm, all agree that Red Hat has garnered
attention by positioning itself as the company best able to capitalize on the
growth of Linux, the open-source operating system that has been developed
and updated by a community of independent programmers, who, in turn,
make all their changes widely available on the Internet."
