IPO Report

Shares of VMware surged in it's IPO debut on Tuesday.  VMW closed up $22 from the IPO price to close at $51.

In an interview VMW CEO Diane Greene said the successful IPO will give the company the capital necessary to make acquisitions and other investments.

VMware's sales rose more than 70 percent last year, topping the $1 Billion mark.

EMC's software unit VMware is a step closer to an IPO debut.  Shares were priced at $29 on Monday, the high end of the range.

EMC will continue to control an 87% stake in the new company.  VMware's IPO will consist of Class A shares and EMC will retain Class B shares.  The Class B shares will have a 10:1 voting ratio to the Class A shares.  EMC will maintain control of 26.5 million shares of Class A common stock in addition to the total 300 million of Class B shares.

EMC acquired VMware in 2004 for $623 Million, making this IPO an incredibly lucrative deal for EMC as the IPO price values VMware at $10.9 Billion.

VMware will trade on the NYSE under the ticker symbol "VMW".

Zinc producer Horsehead Holding's initial public offering (IPO) of 4.86 million shares traded above their issue price of $18 in Fridays debut on the NASDAQ.    

Horsehead, which is based in Monaca, Pennsylvania, gained 60 cents to close at $18.60

        Horsehead trades on the Nasdaq under the symbol "ZINC."