Google opens auction today ahead of IPO next week

Internet search engine Google said that it will take bids on Friday to set its share price ahead of a public offering next week.

Internet search engine Google said that it will take bids on Friday to set its share price ahead of a public offering next week.

Stock from Google's initial public offering (IPO) will trade next week based on the best price garnered from Friday's auction.

The bidding opens at 9:00 am (1300 GMT) on Friday, but only to bidders who signed up before Thursday's deadline on Google's IPO Website. Those eligible may place bids with their brokers.

The Mountain View, California-based company expects to sell 25.7 million shares between $108 and $135 per share, depending on the outcome of the auction, raising up to $3.47 billion.