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Google Stock Prices At $295
By David Utter
Expert Author
Article Date: 2005-09-15
The new offering of 14,159,265 shares of stock in the search engine company price just a bit higher than its IPO price of $85.
Once markets open in the US on Thursday, new shares of GOOG will debut with a starting price of $295, according to the BBC. That's pretty close to Wednesday's close at $303 per share.
The number of shares Google will offer equals that of the first digits appearing after the decimal in the value of Pi. Google has only offered a general statement of its intentions toward using the cash generated.
That figure should top $4 billion, and add to Google's existing cash hoard of $3 billion. This secondary offering would be the biggest high-tech follow-on sale in almost ten years.
"The principal purpose of this offering is to obtain additional capital," Google wrote in a statement to the Securities and Exchange Commission. "We have no current agreements or commitments with respect to any material acquisitions."
Let the guessing games continue. WebProNews will check back after the market closes to see where the share price went today.
About the Author:
David Utter is a staff writer for WebProNews covering technology and business. Email him here.
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