Google Inc., is set to begin a stock sale that could net more than $4 billion in proceeds, according to data provider Dealogic.


Dealogic, which specializes in IPOs, indicates that Google’s second share offering will exceed $4 billion dollars.

The Street.com reports that Google’s highly anticipated secondary offering was priced late Wednesday at $295 a share, below its closing price of $303. Google sold 14,159,265 shares directly to institutional investors.

In addition to the 14.2 million shares Google is selling in the offering, insiders have sold 15.2 million shares since the stock went public. That’s on top of the $563 million worth of Google shares that Yahoo! sold in the second quarter.

According to Street.com, “All of this has made more and more shares available for trading, which may be just what Google wants. To qualify for entry into the S&P 500, a company’s float, the shares not held by insiders or purchased through buybacks, must be at least 50% of its total outstanding shares. Before the offering, insiders alone held 53.4% of Google’s stock; after it, that ratio falls to 51%”.

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