Google could finally be poised to file for a much-anticipated initial public offering, thanks to a fast-approaching deadline that requires the search leader to report financial information to federal regulators.
According to US securities laws, private companies that exceed a certain level of stock distribution are required to file quarterly financial data with the Securities and Exchange Commission. Barring any extension or reprieve, the deadline is up next week for Mountain View, Calif.-based Google as the company reaches the end of its first quarter.
As a result, some financial analysts expect that Google will file for a public offering next week to avoid having to disclose closely guarded financial data without the benefit of raising capital. However, the company could file to extend the period in which it has to report financial data.
News source: Reuters