TRADING of shares in Internet search engine Google could begin today after the company asked US regulators to approve its registration.

Approval from the Securities and Exchange Commission (SEC) would enable Google to close the auction that is determining its share price.

Google is planning to sell 26 million shares on the Nasdaq, raising about £1.63bn.

Google announced plans to float in April and surprised the market by deciding to sell its shares in a Dutch auction, which gives investors a better chance of acquiring a stake in the company.

The price is determined by the investors, who decide how much they are willing to pay for shares.

The highest bidders are guaranteed a stake in the company and the issue price is set by the lowest bid after all shares are allocated.

But the process has not been smooth, and recent turbulence on the stock market led to speculation on Wall Street that Google might delay its listing.

The company also revealed yesterday that the SEC had opened an informal inquiry into its failure to properly register the shares issued to employees and contractors.

The inquiry could lead to Google being fined by the SEC if it is found to have breached federal or state laws.