waltky
08-18-2005, 06:38 PM
Proceeds to be used for possible acquisitions of complementary businesses, as well as for working capital and technology spending.
August 19, 2005
Google plans to raise more than $4 billion through a secondary offering on the Nasdaq stock exchange as the Internet search engine celebrates the anniversary of its controversial initial public offering.
The company, founded by Stanford University graduates Larry Page and Sergey Bin in 1998, said it planned to use the proceeds for “possible acquisitions of complementary businesses”, as well as for working capital and technology spending.
The company plans to sell 14.16 million class A shares, which could raise just over $4bn if the shares are sold at Wednesday’s closing price of $285.10, and if the sale is fully subscribed.
Google’s shares opened 2.53 per cent lower in New York on Thursday at $277.9.
While Google said it may use the extra cash for acquisitions, it added it had no current targets.
More http://www.business-standard.com/iceworld/storypage.php?hpFlag=Y&chklogin=N&autono=197744&leftnm=lmnu9&leftindx=9&lselect=0
August 19, 2005
Google plans to raise more than $4 billion through a secondary offering on the Nasdaq stock exchange as the Internet search engine celebrates the anniversary of its controversial initial public offering.
The company, founded by Stanford University graduates Larry Page and Sergey Bin in 1998, said it planned to use the proceeds for “possible acquisitions of complementary businesses”, as well as for working capital and technology spending.
The company plans to sell 14.16 million class A shares, which could raise just over $4bn if the shares are sold at Wednesday’s closing price of $285.10, and if the sale is fully subscribed.
Google’s shares opened 2.53 per cent lower in New York on Thursday at $277.9.
While Google said it may use the extra cash for acquisitions, it added it had no current targets.
More http://www.business-standard.com/iceworld/storypage.php?hpFlag=Y&chklogin=N&autono=197744&leftnm=lmnu9&leftindx=9&lselect=0