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Let's see
"between $2.66 billion and $3.32 billion in stock would be sold in the initial public offering"
"Google, which is offering just 9 percent of its stock, would have a market capitalization between $29 billion and $36 billion, counting shares held by insiders."
"In the first six months of 2004, the company earned $143 million"
So assuming google ends the year with $300mil profit, they'll have introduced shares of $2.66bil to $3.32bil and that will be just the 9% of their stock. I'll pass.
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