[ale] Red Hat files for $96.6 million IPO

[Christopher Smiga]

Red Hat files for $96.6 million IPO
http://biz.yahoo.com/rf/990604/8u.html

WASHINGTON, June 4 (Reuters) - Software firm Red Hat
Inc. said Friday it would raise $96.6 million through
the sale of its common stock in its first-ever sale to
the public.

In an initial public offering filed with the
Securities and Exchange Commission, the Durham,
N.C.-based company said it applied to trade on Nasdaq
under the stock symbol ``RHAT.O.''

The company did not disclose the eventual amount of
stock to be offered or the estimated initial selling
price. The filing was made for a nominal amount just
to calculate a registration fee.

In practice, companies usually amend initial public
offering statements later to include the specific
amount of stock to be sold and at what price.

The offering will be made through Goldman Sachs & Co.,
Thomas Weisel Partners LLC and E*Trade Securities Inc.

Red Hat is a developer and provider of open source
software and services, including Red Hat Linux
operating system.

Net proceeds will be used to provide working capital
and for other general corporate purposes.


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