Google Inc. priced its initial public shares at $85 each, at the low end of the search giant’s downgraded estimates.
Regulators approved Google’s plans for its initial public offering, clearing the way for the Internet search company to begin selling shares as early as tomorrow morning.
The approval came after Google, scrambling to complete one of the U.S. stock market’s most eagerly anticipated stock deals, lowered both the number of shares it plans to sell in its initial public offering and the price estimates for the shares it will sell. The move sharply reduced the amount the California company will raise and thus the estimated valuation of the company.
But still and all, this is is the largest tech IPO in history, I believe. And at $85, there’s a better chance it will open up….
The SEW thread on this is here…