Google Inc. is forging ahead with its highly anticipated $3.3 billion initial public stock offering, declaring that its auction will open on Friday despite concerns over market conditions and a recent series of missteps.Is Google just having a laugh with the Friday 13th thing, during a depressed season for IPO's and with August being vacation month? In spite of recent bad press they've had, I hope it goes well.
The auction, which will serve as a prelude to perhaps the largest U.S. IPO of the year, will commence at 9 a.m. EDT on Friday, the Mountain View, California-based search engine said in a statement on its Web site on Thursday.
Google did not specify when the auction would end, only that it would announce the price of the IPO next week. Google estimated its shares would price between $108 and $135 each, which could value the company at more than $36 billion.