There is good news for all Google enthusiasts who want to be an owner of dream firm. Google Inc founders Larry Page and Sergey Brin plan to sell about 10 million of the company's shares over the next five years.
Page and Brin currently own about 57.7 million shares of Google's common stock--roughly 18 percent of Google's outstanding capital stock and about 59 percent of the voting power of Google's outstanding capital stock. If the two founders both sell 5 million shares as planned, they would own about 47.7 million shares, which would represent around 15 percent of Google's outstanding capital stock and 48 percent of the voting power of Google's outstanding capital stock. Larry Page is currently Google's president of products and Sergey Brin is its president of technology.
I think if Google founders sell their share, then there will more shares in the market leading fall in market price which is currently trading around $500. This will be a good opportunity for the new investors wanting to have Google shares in its portfolio.
Posted by Preet Varun Singh
Posted by Preet Varun Singh
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