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Google Shares Rocket On First Day! - 8/19/2004 5:18:14 PM   
SiliconFreak


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Shares in Google have shot up 18% on its first day of trading, marking a dramatic comeback from the humiliation of its cut-price public offering.
Google shares - whose offer price had been set at $85 - ended their market debut up $15.33 at $100.33.

The price had been cut from an initial estimate of $108-135, in the face of weakness in the tech sector and several stumbles during the offer process.

The sale of 19.6m shares is expected to raise $1.66bn (£0.90bn).

The Google flotation ranks as the third richest US-based IPO on the Nasdaq after Charter Communications in 1999 and Genuity in 2000.

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Source : BBC News
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