IBM files to sell $2.6m Red Hat shares

WASHINGTON: IBM Corp. has filed with the Securities and Exchange Commission to sell 75,000 common shares, valued at $2.6 million, of Red Hat Inc., the Linux operating system and software company. International Business Machines made the filing on June 22, and it was publicly released by the SEC on Thursday.

The document showed that IBM, the world''s largest computer maker, already sold 180,000 shares of Red Hat worth $10 million in late March. Armonk, NewYork-based IBM acquired the 75,000 shares from Red Hat, located in Research Triangle Park, N.C., in a private purchase on Feb. 25, 1999, the SEC filing showed.

IBM shares were down 3-1/16 to 110-5/8 on the New York Stock Exchange while Red Hat was off 11/16 to 27-1/4 on Nasdaq.

(C) Reuters Limited 2000.