August 10, 2004

Google will close the registration process for its IPO auction Thursday, setting the stage for the online search engine leader's hotly anticipated stock market debut.

Google posted a notice early Tuesday announcing plans to end the registration process at 2 p.m. PDT Thursday. After closing the registration period, Google plans to launch an unusual auction to sell 25.7 million of Google's shares "soon thereafter," the company said in its written statement. No further details were available.

Google has been issuing 16-digit registration numbers to prospective bidders for its initial public offering since July 30 when it opened a special site, www.ipo.google.com, to process the requests.

The registration numbers are a prerequisite for anyone who wants to bid for Google's IPO shares. The actual bids must be made through one of 28 brokerages that's handling Google's hotly anticipated IPO.

Google has valued its IPO at $108 to $135 per share, but the company's so-called Dutch auction is supposed to determine the final price. The winning bidders in the IPO auction will be notified through e-mail. After the auction is completed, Google's shares will begin trading on the Nasdaq Stock Market under the ticker symbol, "GOOG."

Source: Mercury News

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