Google Moves to Price IPO Today
In a posting on its IPO Web site yesterday, Google said it would ask the Securities and Exchange Commission to declare its registration statement effective at 4 p.m. (ET) today. After the SEC gives its OK, Google can end the auction and set a price for its shares. Google said bidders would receive an e-mail notifying them if their bids were accepted as soon as one hour after the SEC declares its registration statement effective.
Google has estimated the price range for its 25.7 million shares on offer at $108-$135, making the IPO worth up to $3.5 billion. Its stock will trade on the Nasdaq market under the ticker symbol GOOG, possibly as early as tomorrow morning.