In a sign that Google’s initial public offering isn’t as popular as expected, the Internet search engine has slashed the price range for its IPO and reduced the size of the issue, according to a Wall Street Journal report today.
The surprise announcement, made in an email to investors, dramatically changes the size of the offering. Instead of raising up to $3.6 billion, the IPO will generate $1.86 billion if priced at the high end of the new range.
The WSJ reported that Google also said that the US Securities and Exchange Commission has requested “additional information concerning the publication” of a Playboy magazine article in which Google’s two founders were interviewed. The company made the disclosure in an amended registration statement filed with the SEC early Wednesday.
Playboy interview (excerpt: you need to buy the mag to read it all).