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2011-02-16
刚学习corporate finance,查google上市,看wikipedia,有两个问题
1-dutch auction underwriting(bidding)方法中,IB不是不fix share price吗?那么$85是作何的?是lower limit of price?
2-sale of $1.67bn gave google a mkt capitalization of >$23bn,这23是怎么算出来的,跟1.67的区别是?

Google's initial public offering (IPO) took place in 2004. The company offered 19,605,052 shares at a price of $85 per share. Shares were sold in a unique online auction format using a system built by Morgan Stanley and Credit Suisse, underwriters for the deal.The sale of $1.67 billion gave Google a market capitalization of more than $23 billion.The vast majority of the 271 million shares remained under the control of Google, and many Google employees became instant paper millionaires. Yahoo!, a competitor of Google, also benefited because it owned 8.4 million shares of Google before the IPO took place.

谢谢!!
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