“Shares of eOn Communications Corp. more than doubled from
its IPO price by noon on Friday, as it added its name to the
high-flying market for Linux-based software companies.
The stock jumped 16-1/4 to 28-1/4 and rose as high as 31-1/8
after raising $43.2 million in its initial public offering on
Friday — the smallest of the nine stock debuts on the day. Eon
priced 3.6 million shares of common stock at $12 each, which was at
the high end of its estimated price range.
The Memphis, Tenn.-based company designs, develops and markets
Linux-based communications servers and software. Wall Street has
been hot for Linux stocks with shares of VA Linux Systems Inc. and
Red Hat Inc. soaring in recent months.”
Web Webster has more than 20 years of writing and editorial experience in the tech sector. He’s written and edited news, demand generation, user-focused, and thought leadership content for business software solutions, consumer tech, and Linux Today, he edits and writes for a portfolio of tech industry news and analysis websites including webopedia.com, and DatabaseJournal.com.
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