在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

  Home>News Center>World
         
 

Google up in market debut after bumpy IPO
(Agencies)
Updated: 2004-08-20 08:36

Google Inc. shares made their long-awaited stock market debut on Thursday, rising sharply to $100 after an initial public offering marked by missteps and lackluster market conditions.

Google co-founder Larry Page and Chief Executive Eric Schmidt, guarded tightly by security, were at the Nasdaq stock market's broadcasting facility in Manhattan as the Web's most popular search engine began trading as a public company.

After ending its unconventional auction to price and sell the shares on Wednesday, Google sold 19.6 million shares at $85 each, raising $1.67 billion, the biggest IPO so far by an Internet company.


A ceremony with Google and Nasdaq executives is shown on a large screen at the Nasdaq MarketSite in New York, August 19, 2004. Shares of Google Inc. will make their Nasdaq stock market debut after the year's most anticipated initial public offering priced far below initial estimates, raising $1.67 billion.  [Reuters]
 
The shares ended trade at $100.34, up $15.34, or 18 percent. Trade ranged from a high of $104.06 to a low of $95.96.

Google shares dipped slightly in after-hours trade after Nasdaq closed, to $100.02, but analysts expected the shares to be well supported in the weeks ahead as buyers who missed out on the auction place bids.

"There were a fair amount of institutional buyers that stayed out the auction but came in (today)," said Martin Pyykkonen, an analyst at Janco Partners. "I see a floor in the $90s."

Workers at Googleplex, the glassy corporate complex in Silicon Valley, waved off reporters' questions about their big payday as they showed up for work on a cool Thursday morning. Local businesses reported that some of Google's 2,300 employees had been shopping recently for new cars and toys.

Google, however, did not fetch the price it had initially targeted for its IPO. On Wednesday, Google slashed the expected price range on the shares to between $85 and $95, down from a previous range of $108 to $135. It also cut the number of shares offered to 19.6 million from 25.7 million.

One fund manager said the lowered price might invigorate investor interest. He said he might buy Google shares in the next few days, depending on how they performed.

"At $108 to $135 a share, it was too expensive," said Douglas Wright, a portfolio manager for Britannic Asset Management in Edinburgh, Scotland. "But now we have a much more comfortable valuation."

ISSUES REMAIN

Trading in Google's shares had a rocky start in the first few minutes before the shares officially opened when they appeared to debut at $136. A Nasdaq official said this was the result of two trades that "should not have gone through."

Nasdaq declined to comment further.

It was the latest hiccup for the unusual auction-based IPO.

The U.S. Securities and Exchange Commission is requesting additional information on a recent Playboy magazine interview with the company's founders, but the company said it does not believe the pre-IPO interview violated U.S. securities rules.

Google has said the SEC staff intends to recommend the agency pursue civil penalties against the company's general counsel. The SEC has also started an informal inquiry into Google's offer to buy back 23.2 million shares it may have issued illegally.

Google's IPO also came as it confronted a jittery investor public -- about two-thirds of this month's IPOs have priced below their estimated ranges, according to Thomson Financial. But market conditions aside, many investors said Google's initial price range was too optimistic. Some fund managers thought even the lowered price range was on the rich side.

Google also appeared to have angered Wall Street with its decision to hold an auction, observers said. The 28 underwriters received a fee of 2.8 percent on the deal, less than half the usual fees for typical IPOs. Merrill Lynch & Co. dropped out of the offering because of the auction process and slim fees. Lead underwriters were Morgan Stanley and Credit Suisse First Boston.

Google's competitors welcomed the IPO, saying that the search industry was poised for more growth.

Yahoo Inc., considered Google's closest rival, said it would continue to attract visitors to its site and Microsoft Corp., whose MSN Internet division is aiming to unseat Google, said there remained room for improvement in search technology.

Yahoo, seen as the closest comparable stock to Google, closed down 1.3 percent at $28.11 on the Nasdaq.



 
  Today's Top News     Top World News
 

Crop trade deficit recorded for 1st time

 

   
 

Chen uses stopover to undermine relations

 

   
 

Gymnastics gold evens the US with China

 

   
 

Senior officials face stiff graft checks

 

   
 

FDI grows by a large margin in July

 

   
 

Massacre proof sent to Nanjing

 

   
  Google up in market debut after bumpy IPO
   
  Sharon's party rebels, imperils Gaza pullout plan
   
  Iraq cleric agrees to end uprising, fighting rages on
   
  British terror suspects ordered held
   
  Google's initial share price set at $85
   
  Aziz wins Pakistan polls, paving way to be PM
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Google's initial share price set at $85
   
SEC leaves Google waiting on IPO go ahead
   
Google could make market debut wednesday
   
Long-awaited Google auction begins Friday
   
Google to pay Yahoo to settle patent dispute
   
Google may have issued shares illegally
  News Talk  
  American "democracy" under the microscope...  
Advertisement
         
主站蜘蛛池模板: 久久久精品免费 | www.黄色片 | 色婷婷av一区二区三区之e本道 | 国产成人一区二区三区 | 香蕉久久a毛片 | 天天做夜夜爽 | 91久久久久久久久 | 精品国产视频 | a视频在线观看 | 免费毛片在线 | 久久精品视频一区二区 | 国产视频导航 | 欧美久久精品 | 成人免费福利视频 | 欧美理论在线观看 | 精品久 | 国产一区二区精品丝袜 | 中文字幕+乱码+中文乱码91 | 亚洲裸体视频 | 欧美在线免费观看 | 在线观看小视频 | 国产欧美日韩综合精品 | 日日干视频 | 亚洲男人天堂av | 国产h视频在线观看 | a视频| 久久黄色录像 | 免费国产一区二区 | 又色又爽又黄gif动态图 | 国产伦精品一区二区三区88av | 欧美在线免费观看 | 免费看黄色一级片 | 亚洲一区二区免费 | 狠狠干2018 | 91av在线看| 日本亚洲欧美 | 97在线免费观看视频 | 中国av在线| 欧美精品乱码99久久蜜桃 | 国产亚洲视频在线观看 | 欧美 日韩 国产 成人 在线 |