Google IPO delayed Google IPO delayed (August 20, 2004)

Lower stock price expected

By Jon Wiener

Google's long-anticipated initial public offering looked to be smaller than previously planned, according to a press release on Google's IPO website Wednesday morning.

The company announced a lower expected price range from its stock - $85 to $95, down from its original projection of $108 to $135 - and reduced the number of shares from 25.7 million to 19.6 million.

The deal was awaiting the final go-ahead from the Securities and Exchange Commission (SEC) Wednesday at Voice press time, with bidders in the companies dutch auction having one more chance to retract their bids.

The net giant had asked the SEC to certify its amended prospectus Tuesday, effective at 1:00 p.m., but the regulators hesitated. As of press time, the SEC was deciding how to respond to Google's request. Trading on a stock usually begins a few hours after certification.

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