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Another Linux start-up strikes gold on Wall Street

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CIOL Bureau
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Investors just can’t get enough of shares offered by the new breed of Linux companies. Andover.Net, a network of Web sites aimed at Linux software developers, went public Wednesday and the stock immediately surged $45 (250 per cent) to $63.25. VA Research, one of the Linux companies supported by Intel, is expected to go public Thursday.



Andover raised $72 million in the public stock offering. VA Linux is expected to reap in $90 million from the sale of a small portion of company-held shares. Andover.Net had revenues of $1.3 million in 1998, with a loss of $474,000.



Meanwhile, Linux market leader Red Hat saw its shares skyrocket further this week and reach $304. It has retreated since to $280. Other Linux-related stocks benefited from the Linux euphoria. Corel soared $5.60 to $28.40. Corel recently launched its own version of the Linux operating system called Corel Linux and also develops applications that run on Linux. Cobalt Networks, a developer of server appliances that run Linux, was up $11to $146

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