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CNET News.com: Red Hat hikes IPO offer price

Aug 10, 1999, 23:37 (0 Talkback[s])

"Durham, North Carolina-based Red Hat, the biggest distributor of the alternative Linux operating system, is slated to offer 6 million shares later this week. The new price range is $12 to $14 per share, up from $10 to $12."

"More IPOs are being postponed or cut in size and terms amid the recent downturn in the broad market and investor hesitation toward Internet and technology IPOs. But analysts have been enthusiastic about Red Hat."

""Red Hat seems to be the hottest deal, given the Linux revolution," said Steven Tuen, an analyst at IPO Value Monitor."

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