Word: ipos
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Clicking on The Right Result It may have confounded the Wall Street investment banks, which usually take a larger commission from such deals, but so far Google's unusual IPO has been a hit for a happy handful of investors. Those who waded through the search engine's complex Dutch auction got the stock at $85 a pop, $23 less than the original lowest price expected, then saw it rise more than 27% in the first two days of trading. That put the stock at $108 - exactly where co-founders Larry Page and Sergey Brin advised it would be. Along...
...their next trick: taking on Wall Street pros at their own game and, improbably, coming out on top. Although much media coverage of Google?s Initial Public Offering portrayed it as a debacle, it was anything but. Brin and Page defied conventional wisdom by launching an IPO that marginalized middlemen and flustered investment bankers. The end result of its Dutch-auction: the company raised $1.67 billion in cash and millions for its individual employees. But it wasn?t without some turbulence. Brin and Page ran afoul of the SEC, reduced the number of shares sold and slashed the offering...
Cracks in the Iraq coalition; G.O.P. dissatisfaction with Frist; corruption and Israel's wall; Google's IPO; European soccer invades...
...past six months, Silicon Valley has been abuzz with the prospect of the first blockbuster public offering in the tech sector since the dotcom crash: the IPO of search-engine giant Google, expected this month. But Google founders Larry Page and Sergey Brin seem to be doing their darnedest to dampen the hype. The company last week gave an unusually bullish official estimate of its opening share price: $108 to $135 a share, or more than 150 times annual per-share profit. (Most large companies average about one-seventh of that.) Google watchers were split on the reason. Either Page...
...lead. - By Lee Hudson Teslik Small Setbacks California's Nanosys, a bellwether of the infant nanotechnology sector, called off its initial public offering, citing "adverse market conditions." Despite not having any marketable products, the firm had hoped to raise more than $100 million. And ahead of its own IPO, Google admitted it may have breached U.S. securities laws after failing to register shares and stock options granted to staff between 2001 and 2004. Meanwhile, difficulties registering investors may delay the offering...