WIS News 10 - Columbia, South Carolina | Google scaling back plans for IPO
Member Center:
(San Jose, California-AP) Aug. 18, 2004 - The Google corporation is lowering the price range for its initial public offering. The firm is expected to file paperwork with the Securities and Exchange Commission on Wednesday.
In a sign that the offering isn't as popular as predicted, the California-based Internet company is dropping the price-per-share to as little as $85, down significantly from earlier estimates of up to $135.
The company also says it's cutting the number of shares available to the public.Google says shareholders will sell about 5.5 million shares, down from about 11.6 million shares.
The company still plans on selling 14.1 shares itself.
posted 9:33am by Chris Rees
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