Google stock offer awaits paperwork approval | HT Tech

Google stock offer awaits paperwork approval

In a sign that Google's IPO is imminent, it asked federal regulators to give final approval to the paperwork required for its stock sale.

By: ASSOCIATED PRESS
| Updated on: Aug 17 2004, 15:21 IST

In a sign that Google Inc's initial public offering is imminent, the Internet search company has asked federal regulators to give final approval to the paperwork required for its stock sale.

If the Securities and Exchange Commission approves, Google can close the auction that's determining the share price and notify successful bidders as early as 5 pm EDT (2100 GMT) on Tuesday. If that happens, the company's stock could begin trading on Wednesday on the Nasdaq Stock Market.

Though the timeline can change, it's expected Google will go public this week, ending a four-month saga that has included the unusual IPO auction, folksy letters embedded in regulatory filings, a Playboy magazine interview of its founders and the discovery that the company neglected to register 23 million shares.

Some of the problems that cropped up could continue to haunt Google. Just on Monday, for instance, Google disclosed that the SEC has opened an informal inquiry into its failure to properly register the shares issued to employees and contractors.

There was no evidence the inquiry could delay the IPO. Google, which is in a so-called quiet period, is not commenting beyond its regulatory documents. SEC spokesman John Heine declined to comment on the nature of the probe.

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First Published Date: 17 Aug, 15:21 IST
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