-- Google Finance, Govt, Policy and Business Issues
---- Google considers online IPO auction
atadams - 11:03 pm on Oct 23, 2003 (gmt 0)
However, investment bankers warned that a pure online auction would risk setting an unrealistically high price for Google's shares, since there would not be enough stock available to meet the massive demand from private investors captivated by the prospect of a new dotcom gold-rush.
Translation: The investment banker's fat cat clients can't buy the IPO shares at unrealistically low prices and then sell them to the rest of us on the open market for a hefty one-day profit.