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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (41102)	12/8/1999 4:32:00 PM
From: puborectalis	Respond to of 108040

Wednesday December 8, 2:25 pm Eastern Time Linux excitement boosts Andover.Net stock in debut NEW YORK, Dec 8 (Reuters) - Excitement over the Linux operating system, seen as an alternative to Microsoft Corp.'s (NasdaqNM:MSFT - news) Windows NT, contributed to the sharp gains made by Andover.Net Inc. (NasdaqSC:ANDN - news) after its debut Wednesday. The Internet destination for products, news and online tools for Linux and Open Source communities raised $72 million after pricing 4 million shares at $18 a share, above the upwardly revised expected price range. The share price of the Acton, Mass.-based firm rose 189 percent to 52 on the Nasdaq in early afternoon trading. The deal was led by WR Hambrecht & Co. with its OpenIPO, or Dutch auction process, which sets the offering price to reflect what people are willing to pay for the stock and attempts to allocate the shares to those with the greatest desire for it. ``It's riding the Linux wave. This kind of a run means there was a lot of aftermarket demand that could not get in on the deal,' said WorldFinanceNet.com research director Irv DeGraw. The company accounts for 50 percent of all Linux-related Web traffic and serves as a community for Linux, a free version of the Unix operating systems that has taken the technology world by storm. It uses a collaborative approach to the development and distribution of software products.