“VA Linux Systems today nearly doubled the price range of the
stock it will sell in an initial public offering expected for
Thursday.”
“The company expected to sell 4.4 million shares at a price
between $11 and $13, but today raised the price range to $21 to
$23, according to a Securities and Exchange Commission
filing….“
“Andover.Net also raised its price range. It originally expected
a range of $12 to $15 per share but raised the range to $15 to $18.
The company last night priced the shares at $18, meaning that the
company hopes to raise $72 million instead of $60 million. The
increase bodes well for the OpenIPO process, which has fallen flat
the two times it’s been used before.”