Google to sell 14 million shares

Posted on Thursday, September 15 2005 @ 17:08 CEST by Thomas De Maesschalck

Google will sell more than 14 million additional shares today, priced at $295. The sale is expected to raise $4.18 billion which Google may potentially use to acquire other companies or to unveil new services.

The search engine giant went public in August 2004 and back then its shares were priced at $85.

"The principal purpose of this offering is to obtain additional capital," Google said in a filing last month with the US Securities and Exchange Commission.

However, it has given no firm details of how it plans to use the money, leading to widespread speculation in the technology industry.

More details at BBC News.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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