Marcia - 3:08 am on Jun 16, 2004 (gmt 0) [sec.gov...] More here SEC: Initial Public Offerings [sec.gov]
This brief piece from the SEC about demand and pricing is interesting in view of Google having a provision regarding speculation
When an IPO is "hot," the demand for the securities far exceeds the supply of shares. The excess demand can only be satisfied once trading in the IPO shares begins. This imbalance between supply and demand generally causes the price of each share to rise dramatically in the first hours or days of trading Many times the price falls after this initial flurry of trading subsides.
SEC: Initial Public Offerings [sec.gov]