Google upbeat on IPO despite virus attack
Tuesday, 27 July 2004, 15:36 GMT
At the forecast pricing, Google would rank as the eighth-largest IPO by a US company, according to Thomson Financial. It would be the highest-priced offering on a per-share basis since Genentech's July 1999 IPO. That price range would also value the company more richly than its closest rival, Yahoo.
The virus behind the outage is the latest version of the notorious 'MyDoom', which searches the web for e-mail addresses using search engines run by Google, Yahoo, Lycos and Altavista. The virus then attempts to e-mail itself to all the addresses it finds. Yahoo, Lycos and Altavista appeared to be less affected than Google.
No date has been set for the share sale but analysts expect it to be in August. Google plans to sell 14.1 million shares itself, with another 10.5 million to be sold by existing shareholders.
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