Google has closed bidder registration for its share auction, with the auction expected to take place later today. 25.7 million shares in the company are expected to be sold for between US$108 to US$135 (€88 to €110). This represents about 9% of Google’s capital, and if the price reaches the upper estimate will give the company a market value of some US$36 billion (€29.5 billion).
Google’s rid to IPO has not been an easy one – illegally issued shares, conflict over IP like Orkut and a under-performing market have led analysts to recommend caution to those considering investing in the company.
The unorthodox Dutch auction for shares was adopted to reflect real-world demand for the shares and allow the company to benefit more from the IPO.