Google drops price range on IPO shares

INTERNET SEARCH giant Google said in a filing on its web site that it is to drop the projected price of its shares to between $85 and $95.

That contrasts with an earlier expectation that the shares might go as high as $135.

The firm also said that as a result of the new price range, it will offer around 19.6 million shares in the company.

The company said that it and its underwriters asked the Securities and Exchange Commission (SEC) to declare the registration statement effective as of today at 16:00 Eastern Delay Time.

It said it will file an amedment to its registration statement when business opens in the US later today.

The notice is here. µ