Google opens auction Friday ahead of IPO next week

NEW YORK, Aug 12 (AFP) - Internet search engine Google said Thursday that it will take bids Friday to set its share price ahead of a public offering next week.
Stock from Google`s initial public offering (IPO) will trade next week based on the best price garnered from Friday`s auction.
The bidding opens at 9:00 am (1300 GMT) Friday, but only to bidders who signed up before Thursday`s deadline on Google`s IPO Web site. Those eligible may place bids with their brokers.
The Mountain View, California-based company expects to sell 25.7 million shares between 108 and 135 dollars per share, depending on the outcome of the auction, raising up to 3.47 billion dollars.
Google plans to offer the public 25.7 million shares, or about nine percent of its capital.