Linux company raises IPO price
Linux developer Caldera Systems prices its initial public offering at $14, indicating strong demand for the shares.
Caldera will offer 5 million shares of its stock to the public for an estimated price of $14, said sources close to the deal. Last week, the company raised its expected asking price to $10 to $12 per share, according to documents filed by the company with the Securities and Exchange Commission.
With the offering, Caldera will raise $70 million. The stock will likely begin public trading tomorrow, sources said, under the ticker symbol "CALD."
The company's IPO comes at a volatile time for publicly traded Linux companies.
Late last year, investors clamored for any Linux-related stocks. VA Linux Systems, which makes hardware tuned for the Linux operating system, set a record for first-day stock gains. However, some Linux-related stocks, including VA Linux, have cooled since their debut.
Caldera initially expected to sell 5 million shares at $7 to $9, but raised the range to $10 to $12 on March 16, according to SEC filings.