Friday, August 20, 2004
Google Inc. shares jumped 18 percent in their long-awaited stock market debut on Thursday, after a scaled-down $1.67 billion IPO.
Google sold 19.6 million shares at $85 each, raising $1.67 billion. The shares ended trade at $100.34, up $15.34, or 18 percent, valuing the company at $27.2 billion and its founders' stakes at $4.35 billion.
Google shares dipped slightly in after-hours trade after Nasdaq closed, to $100.02, but analysts expected the shares to be well supported in the weeks ahead as buyers who missed out on the auction place bids.
By: DocMemory
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