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Google raises $4.18 billion

Posted on Saturday, September 17 2005 @ 01:35:42 CEST by


Google sold an additional 14.18 million shares priced at $295 each on Thursday and buyers can be happy because the stock closed at $303. This action raised $4.18 billion for Google, but it's not clear what Google will do what all that money.

Some analysts believe Google may be interested in expansion in China and making acquisitions to expend their current offerings. The offering leaves the company with about $7 billion in cash.
"They are obviously competing with a variety of companies that have large balance sheets, so it's a smart move for them to raise capital when they can, in order to be able to participate in the large (merger and acquisition) transactions that seem to be happening more frequently," Edwards said.
More info at CNET.


 



 

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