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Google IPO Bidding Launch
Posted on: 2004-07-31 00:58:21 Site Live, Apply Now To Bid Google has finally started to take bids today for their public auction process. In mid-august as many as $3.3 billion shares will be sold using a so-called Dutch auction process. This process, while not commonly used in the USA, is designed to allow smaller retail investors to join a level playing field with the bigger institutional funds and investment firms who normally have the best access. Investors need to submit bids that include the price they are willing to pay and how many shares they want to buy so Google and it's underwriting bankers, Morgan Stanley, can get the highest price at which there is demand for all of the shares, called the clearing price. The offer price will then be at or below this clearing price. Visit http://www.ipo.google.com to apply for a identification number (as long as you are a USA resident) to participate and to view the prospectus video including comments by Google founders, Sergey Brin and Larry Page, near a rather naff-looking Google sign. |