VMWare off to good start with IPO offering
Posted by Dennis Sellers 
Aug 14, 2007 at 12:31pm
VMware, which makes such products as the Fusion virtualization sofware for Mac OS X, announced yesterday that its Initial Public Offering (IPO) of 33,000,000 shares of its Class A Common Stock was priced at US$29 per share with trading starting Aug. 14. Things are apparently off to a good start.
IPO launched out of the gate with an initial trade of $52 a share, reports CNET. VMware investors who snapped up shares at $29 a pop as part of the IPO offering reaped a profit of 79 percent on that first trade.
“VMware is poised to be the No. 1 first-day gainer for the year,” Richard Peterson, director of capital markets research for Thomson Financial, told CNET. “And although it was anticipated to be well-received, it came out on a day when the overall markets are down by 150 points, making its debut all the more impressive.”
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
