Google To Start Trading Thursday at $85 per Share
Google Inc. is ready to trade after announcing Wednesday that their stock will be priced at $85 per share.
After being touted as one of the most sought after tech stocks since the dot-com crash, Google had to lower their share price from a range of $108 and $135 to somewhere between $85 and $95, and reduced the number of shares sold from 25.7 million to 19.6 million.
The IPO will raise Google $1.67 billion, down from the original figure of $3.6 billion.
Google can begin trading as early as Thursday.
Companies that currently hold stock in Google that plan to sell shares include America Online Inc. and Yahoo! Inc, along with co-founders Sergey Brin and Larry Page.
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