Google throws open US bidding door

WOULD-BE investors will be able to bid for shares in Google from today. Publication yesterday of an interview with founders Larry Page and Sergey Brin in the latest issue of Playboy had threatened to derail the plan as it could have broken Securities and Exchange Commission rules demanding a 'quiet period' before floats.

Even though Page and Brin gave the interview before the company filed for its initial public offering, its publication was feared to have breached limits on communication by executives ahead of Initial Public Offerings. The SEC declined to comment.

Meanwhile, Google's website announced the bidding would start at 2pm London time. In documents filed with the SEC, Google expected the shares to be priced at between $108 (£62) and $135. If the 25.7m shares on offer were priced at the midpoint $121.50, Google would be valued at $32.6bn (£17.8bn) and would raise $3.1bn.

The company also said the stock would be priced some time next week. As the company is free to increase the number of shares it offers, it seems certain anyone who bids above the strike price will get a full allocation.

Because of prevailing marketing conditions, experts think the price range is too high and that bids will come in around $100. Only US-based individuals and companies can apply.