Stocks, IPO, NASDAQ, NYSE, Company's shares
SOURCE: Netscape Money and Business
Google Opens Site to Register Bidders
By MICHAEL LIEDTKE
SAN FRANCISCO (AP) - Google Inc.'s highly anticipated IPO took a major step toward reaching the stock market late Friday when the online search engine leader opened the Web site where prospective investors must register to bid for the company's shares.
The site, www.ipo.google.com, is meant to be the first stop for anyone interested in getting a piece of an initial public offering expected to rank among the largest in the stock market's history.
Earlier this week, Google estimated its stock would sell for between $108 and $135 per share - a price that would value the 6-year company at $29 billion to $36 billion.
But Google's target price isn't set in stone. The Mountain View-based wants to determine the final IPO price through an auction open to everyone who takes the necessary steps to participate.
The egalitarian nature of Google's IPO is extremely unusual - a factor that might heighten the already high interest for the 24.6 million shares that are being auctioned. Most IPOs are exclusive events aimed at elite investors and the friends and family of the insiders at the company selling the stock.
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