May 21, 2004 5:08 PM PDT
Google names 31 underwriters
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In addition to lead underwriters Morgan Stanley and Credit Suisse First Boston, which were previously disclosed, Google will employ Goldman Sachs, J.P. Morgan Chase, Lehman Brothers, Thomas Weisel Partners, WR Hambrecht and Deutsche Bank, among others, according to a filing with the U.S. Securities and Exchange Commission.
On April 29, Google filed with the SEC to raise about $2.7 billion in a stock sale later this year, which will be one of the biggest sales of a technology company's stock since the Internet's salad days.
The company plans to sell shares via an open auction process, with the hopes of leveling the playing field for smaller investors. Typically, institutional investors run the show, setting the share price of an offered stock and allocating shares to parties of their choice. Google's IPO will allow interested investors to bid for shares at a price they're willing to pay. Whichever bid is highest will win.
No date has been set for the stock offering, but it is expected to happen this year. Investors will need to have an account with one of the underwriters.
Other Google IPO underwriters include Allen & Co., Citigroup, UBS, Piper Jaffray, Lazard, Merrill Lynch, Ameritrade, M.R. Beal, William Blair & Co., Blaylock & Partners, Cazenove, E*Trade Financial, Epoch Partners, Fidelity Capital Markets, and Wells Fargo Securities.
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- Wall Street In, Washington Out?
- Google booted Goldman out a few weeks ago, now they welcome them back with open arms? Why, Google needs all the help they can get, since their entire offering is based on spyware software programs they need to sell the stock in a hurry before Lawmakers outlaw data mining software like Google's. Look at the following page, http://www.searchwars.squarespace.com/display/ShowPage?moduleId=25147 you will find that the Google business model is under pressure from Lawmakers. Wall Street will sell Google up, then they will Short the Stock down, they care about making money, not Google. Too bad Washington is looking at laws that will force Google into a business model that is much different than their present one.
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