Google to reveal float details

INTERNET search engine Google may reveal details of its share pricing later this week ahead of its much-anticipated $2.7bn (£1.8bn) flotation.

Although the company could launch its stock market listing as early as August, City sources indicated today that it is more likely to come in September. The company plans to list on the hi-tech Nasdaq index in the US.

A technology analyst told This Is Money that September was the most likely time frame for the company's flotation.

'They could get things going in August but, frankly, this is probably not the best month to do it,' he said. 'We're waiting to see what its thinking on the share price is and then it has to release quarterly figures. I don't anticipate the formal launch before then.'

If Google floats successfully it will be the largest internet company ever to gain a public listing. The company plans to use a Dutch auction to allocate shares to would-be investors. Although it plans to let investors play a role in determining the price, it has to provide an indicative range under US Securities and Exchange Commission rules. Only American residents will be allowed to participate.

Google applied to go public in April with underwriters Morgan Stanley and Credit Suisse First Boston.

Meanwhile, Nasdaq, the electronic stock market that is the home to the vast majority of US technology firms, said it wanted to build the number of non-US listed companies who use it when seeking a wider investor base abroad.

Chief executive Bob Griefeld said he wanted to attract more international companies on Nasdaq. About 10% of Nasdaq's 3,300 listed companies are based outside the UK.

UK technology stock lastminute.com last week announced plans to de-list from Nasdaq, blaming onerous listing requirements.

The online travel company said it felt that existing and new obligations set down for companies having a US registration were becoming increasingly complex and costly.

The company said it would save about £1.5m by abandoning its US listing.