Google, the popular Internet search engine operation, filed for a $2.7 billion initial public offering Thursday in what looks set to become the largest dot-com stock offering ever.
Google intends to take the rare step of selling its shares via “Dutch auction,” where pricing is established in an open-to-the-public bidding process.
Morgan Stanley and Credit Suisse First Boston are the lead underwriters for the widely anticipated IPO.
Google, based in Mountain View, Calif., has not decided whether it will seek listing on the New York Stock Exchange or the Nasdaq Stock Market. It has not determined how many shares it will sell.
In filing for its IPO, Google has put to rest a financial question that had been the subject of great scrutiny: It has been profitable for the past three years and has better operating margins than rival Yahoo.
Read more at CBS Market Watch
