VA Linux Systems nets $132m in first hours of trading
Linux stocks on the up
Updated Linux-based hardware vendor VA Linux Systems launched its IPO today - making itself $132 million in the process, with shares originally mooted to fetch $11-13 going for round $30.
Trading in VA's 4.4 million shares continues, but with almost every other major Linux stock rising through the day, VA's share price is unlikely to stay at $30. So far, Red Hat has increased four per cent to $281.13, Corel 43 per cent to CA$40.63, and Slashdot owner Andover.net 25 per cent to $79. Expect more of the same - and more Linux company stock to be publicly traded. Next Tuesday, services firm Linuxcare will announce details of its IPO and an alliance with Red Hat.
And Asian Linux distributor TurboLinux plans to IPO sometime next year, according to CEO Cliff Miller. So too is fellow distie Caldera Systems. ®
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