Google IPO

It's been long-awaited and now it's here.

Google's IPO is now official.

Google filed documents with the SEC on Thursday 29th April in which it apparently indicated that it was going to raise as much as $2.7 billion.  Morgan Stanley and Credit Suisse First Boston are going to be the lead underwriters.

Details are eagerly awaited about how the stock will be sold.

Google said that it had revenues of $961.9 million in 2003 and made a net profit of $106.5 million. Sales were up 177 percent from the previous year but earnings increased by 6 percent. Google has been profitable since 2001.

The company intends to use an auction process to price its shares and to include both large and small investors.  People interested in buying the shares will need to get a unique bidder ID from a website.

More soon..

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