Google’s initial public offering was already perhaps the most anticipated moment in cyberspace when estimated at a mere $2 billion. But now the California-based search kings say their IPO would be worth as much as $3.3 billion, with some 24.6 million shares to be sold for between $108-135 a share, according to a filing with the Securities and Exchange Commission.
Google plans to use the net revenues from the IPO, believed to be $1.66 billion, for what a published report said are general corporate purposes.
The plan is for the company itself to sell 14.1 million shares with another 10.5 million sold by stockholders, the report continued, with approval to list Class A common stock on the high-tech NASDAQ composite with the symbol GOOG.
Co-founders Sergey Brin and Larry Page will each hold 16 percent of the voting stock power following the IPO, the report said. Brin is expected to sell 962,226 shares and Page 964,830.
Underwriters led by Morgan Stanley and Credit Suisse First Boston have the option to buy another 3.7 million Class A shares in the Google IPO, the report continued, with selling stockholders including America Online and Yahoo, both of which plan to sell ten percent of their Google stakes. Those stakes are believed to be 743,745 shares held by AOL and 549,888 by Yahoo.
