Monday, July 26, 2004
Google said Monday it hoped to raise as much as $2 billion in its long-anticipated initial public offering by selling about 14.1 million shares at an estimated price of between $108 and $135 per share.
Google also said that current shareholders, including the two founders, Larry Page and Sergey Brin, will sell another 10.5 million shares, making the IPO worth upwards of $3.3 billion if all goes according to plan. If Google's estimates hold true, its offering could be the biggest Internet IPO of all time.
The IPO will sell about a nine percent stake in the company, and give the search firm a market value of some $36 billion. The company will trade on the Nasdaq using the symbol GOOG.
By: DocMemory
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