Google cut the range of its IPO price to $85-$95 per share from $108-$135 per share and the number of shares that shareholders plan to sell to 5.5 million from almost 12 million.

Google said it asked the Security and Exchange Commission to declare the registration statement effective on Wednesday, Aug. 18, 2004 at 4:00 p.m. Eastern, a day later than planned, with the hopes of trading beginning on Thursday.

Even at its reduced price, the Google IPO is expected to be the largest ever for an Internet stock, and is expected to raise $1.8 billion at the mid-point of the latest price range.

By: DocMemory
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