SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  For example, here is how to disable FireFox ad content blocking while on Silicon Investor.
Technology Stocks
Red Hat Software Inc. (Nasdq-RHAT)
An SI Board Since June 1999
Posts SubjectMarks Bans Symbol
1794 111 0 RHAT
Emcee:  Mohan Marette Type:  Unmoderated
Red Hat Software Files to Raise $96.6 Mln in IPO (Update1)

Washington, June 4 (Bloomberg) -- Red Hat Software Inc., which sells a Linux operating system that competes with Microsoft Corp.'s Windows software, filed to raise as much as $96.6 million through an initial stock sale.

The Durham, North Carolina-based company didn't specify in its filing with the Securities and Exchange Commission the number of shares it would sell or their expected price range. Those details will be included in a future filing. The $96.6 million top value was used solely to calculate a registration fee.

Red Hat sells software products and services related to Linux, a computer operating system available free on the Internet that rivals Microsoft's Windows operating system. Many view Linux as a threat to Microsoft's dominance in personal computer and server operating systems. It's considered a viable alternative to Microsoft, which operates in more than 90 percent of the world's new PCs. Some users find the Linux software more reliable. ''This bears an acknowledgment that Red Hat has created an apparent market for Linux as a supported, pay-for product and is about to cash in on that,'' said Harry Fenik, an analyst at market researcher Zona Research Inc.

Red Hat counts well-known technology companies such as Intel Corp., Oracle Corp., Compaq Computer Corp., Dell Computer Corp., Novell Inc. and International Business Machines Corp. among its investors. Other large technology companies such as SAP of Germany, the No. 1 business-management software maker, and Dell, the top direct PC seller, have said they'll sell the Red Hat Linux software with their products.

10 Million Users

Linux was developed in 1991 by Linus Torvalds, who was then a student at the University of Helsinki and now lives in the U.S. The operating system has captured the imagination of software programmers and technology enthusiasts because it was modified and widely used by the programmers throughout the Internet community.

Linux has gradually been gaining acceptance as a commercially-viable operating system.

More than 10 million users run the Linux system and it was the fastest-growing server operating system last year, according to International Data Corp. It accounted for more than 17 percent of all computer server operating system shipments last year. ''The difficult times in terms of technology and managing end-user expectations are ahead, not behind,'' Fenik said.

Red Hat said it would use proceeds from the stock sale for general corporate purposes, including working capital and geographic expansion.

Underwriters for the stock sale will include Goldman Sachs & Co., Thomas Weisel Partners LLC and E*Trade Securities Inc. Red Hat has applied to trade on the Nasdaq Stock Market under the symbol ''RHAT.'
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):
ReplyMessage PreviewFromRecsPosted
1794IBM to acquire Raleigh, NC- based Red Hat software for $190 a share wraltechwirRon-October 28
1793yeah - well 11/08 purchase at $7.50 would have gotten you about as much as buy 1hdl-2/26/2013
1792rht has had a good 10 years.Brian-2/25/2013
1791rht has had a good 8 monthshdl-7/22/2009
1790ticker symbol changed from rhat to RHTBrian-7/25/2007
1789Gone?ZMD7-7/25/2007
1788Gone?ZMD7-7/25/2007
1787RHAT -- Contrarian Alert! Message 22947pcyhuang-10/26/2006
1786yelp!Brian-10/26/2006
1785a very sick dog!hdl-10/26/2006
1784trying abit of rhat long here. ? over reacton.zx-9/27/2006
1783Partners Upbeat But Not Ecstatic About Red Hat forbes.comLizzie Tudor-6/20/2006
1782rhat is approaching a 6 year highhdl-4/10/2006
1781Red Hat Inc. on Monday said it plans to purchase a software firm in a cash-and-sRon-4/10/2006
1780sweet first hour and held on to gain.hdl-12/14/2005
1779testrlclark-10/16/2005
1778i would make it payoff for you with my winnings, except that i am allergic to cahdl-9/30/2005
1777a nice tad I've been waiting for RHAT to pay off, no position in the stock nLizzie Tudor-9/29/2005
1776rhat up a tad on increase in earnings, revenues and margins.hdl-9/29/2005
1775Red Hat-RHAT reports Q2 EPS .09c vs. consensus est of .07c RHAT reports Q2 rev $Ron-9/28/2005
1774rhat bouncing backhdl-9/7/2005
1773Why did it drop over 50 cent? Anybody have any idea or info.itbjAlias-8/3/2005
1772SCO e-mail: No 'smoking gun' in Linux code news.zdnet.comagent-7/16/2005
1771I have no idea. I have not used Linux. I just watch the charts and earnings inRon-7/1/2005
1770is what novell sells for half as good as what rhat sells?hdl-7/1/2005
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):
Copyright © 1995-2018 Knight Sac Media. Data provided by IEX, Alpha Vantage, Coinbase, Binance, Fintel and CityFALCON News - See Terms of Use.