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Google to sell $2.7bn in shares |
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| Thu, April 29 2004 | 4:24PM | PermaLink |
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Internet search powerhouse Google has confirmed it is to float on the US stock market.
The company has filed papers proposing to issue stock to raise an estimated $2.7bn (£1.62bn), documents showed.
Google added it would list its shares either on the Nasdaq or New York Stock Exchange - a move experts predict could value the firm at $20bn or more.
Founders Sergey Brin and Larry Page are set to become billionaires, while many workers hope for million-dollar riches.
The initial public offering (IPO) will be led by Morgan Stanley and Credit Suisse First Boston. Google revealed it made a net profit of $105.6m in 2003, on revenues of $961.9bn.
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