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Google Delays IPO; BioMed Offers at $15

Jeffrey R. Hirschkorn, Senior IPO Analyst, Aug. 6, 2004

As previously reported by Current Offerings, officials at co-lead manager Credit Suisse First Boston, have confirmed that owing to late breaking revelations with regard to previously undisclosed stock sales and logistical problems with the inexperience of the deal's lead managers in conducting a Dutch auction IPO, the Google (proposed: GOOG) initial public offering will be delayed. No new definitive pricing has been set. The pricing will also face delays because of news reports that Google wants mutual fund managers to bid on shares of its IPO.

The fifth pricing of the week comes to us from BioMed Realty Trust (BMR), a real-estate investment trust that focuses on leasing office and laboratory space to the pharmaceutical market. Final offering terms for the deal include the sale of 27 million shares at $15, within expected pricing goals. Underwriters for the IPO included Raymond James, Friedman Billings Ramsey, KeyBanc Capital Markets and Legg Mason Wood Walker. Trading will begin today.

EMPI (proposed: EMP), a medical device concern, has postponed its planned IPO due to market conditions.

While, Lindows (proposed: LINE), a firm headed by MP3.com founder, lowered talk on its IPO to $7-$9. Roth Capital Partners and JMP Securities are co-lead managers. Pricing is expected in the upcoming week.

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