UPDATE - Advisors steering clients away from Google IPO
UPDATE - Advisors steering clients away from Google IPOUPDATE - Advisors steering clients away from Google IPO
Wednesday August 4, 8:33 pm ET
By Nicole Maestri
(Adds detail on timing of IPO, paragraph 3)
NEW YORK, Aug 4 (Reuters) - The rich price tag being hung on Google Inc (News - Websites) .'s initial public offering has many financial advisors steering their clients away from the deal; turning off some of the very investors the Web search giant had hoped to attract.
Google (News - Websites) is billing its upcoming $3 billion IPO, in which it is selling its shares to the public using an auction, as a "democratic" one that will help put the everyday investor on equal footing with institutions and wealthy individuals that typically have better access to deals.
Sources say that an IPO could happen as early as Wednesday of next week.
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