Wednesday, August 18, 2004

WSJ.com - Google Cuts Price Range For IPO to $85-$95 a Share

WSJ.com - Google Cuts Price Range For IPO to $85-$95 a Share "In a sign that Google Inc.'s initial public offering isn't as popular as expected, the company lowered its estimated price range to between $85 and $95 a share from the earlier prediction of $108-$135 a share.
The company also said the number of shares available to the public will be lowered by 6.1 million as existing holders will now only sell 5.5 million shares, down from about 11.6 million shares. The company itself plans to sell 14.1 million shares as originally planned.
That means a total of 19.6 million shares will be available. The reductioin should help increase the per-share price because the overall supply of shares has decreased.
The company sent e-mail notices at 2:53 a.m. EDT to people who had registered to bid in its unusual auction that will determine the ultimate IPO price."

Late developments from dare-to-be-different Google...
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