Wednesday, August 18, 2004
Wednesday IPO News
The late news on Wednesday was that Google had received final SEC approval. The dutch auction for shares is closed, and public trading may start tomorrow. All that really remains is for the underwriters to determine the opening price and to allocate all the shares. Also, the International Herald Tribune says Google has failed to captivate investors, and Business Week and the Miami Herald points out the same thing I stated this morning, that with the new share price, Google is basically a bargain. SEC Chairman William Donaldson is saying that after Google's Playboy interview, the rules on the "quiet period" before an IPO need a "long hard look".