PC Week: VA Linux IPO takes off like a rocketDec 10, 1999, 15:40 (0 Talkback[s])
(Other stories by Larry Dignan)
"Analysts expected demand for the IPO to be strong, but they didn't expect a run-up of 800 percent. If the VA Linux gains hold, it will be the most successful first-day IPO opener. Theglobe.com's 606 percent jump in November 1998 stands as the biggest first-day gain. Other IPOs this year including Linux player Cobalt Networks have challenged the record...."
"VA Linux is seen as a leader in its category," said Francis Gaskins, editor of the Gaskins IPO Desktop. "If you're a leader in your category the market is paying up...."
"VA Linux will use the IPO proceeds to fund operating expenses, including broadening its professional services organization, hiring more research and development staff, and expanding sales into Europe."