“VA Linux will make its market debut Thursday with 4.4 million
shares priced at $30 (£19) each.”
“VA Linux upped its price range twice leading up to the
offering. On Wednesday, the company said its new range was $28 to
$30 per share, up from the $21 to $23 announced Tuesday, and far
above the original price range of $11 to $13. The company sells
systems running Linux, a freely available Unix variant largely
developed by a grassroots community of software writers.”
“The market in recent weeks has furiously traded Linux-related
stocks, including Andover.net, which soared in its public debut
Wednesday. 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.”