INTERNET search engine Google is planning an unorthadox flotation on the US stock market.

The company plans to issue stock in an online auction, rather than following the traditional route of allocating shares to applicants.

It is anticipated the move will make founders Sergey Brin and Larry Page billionaires and could raise as much as $2.7bn, with the company valued at $20bn.

Google has stuck to its core business values of accessibility for all by ensuring that everyone will have the chance to buy its stock before shares begin trading.

Shares in the company are expected to begin trading either on the Nasdaq or the New York Stock Exchange in the late summer or early autumn.

Fund managers are expecting the auction will lead to the share's being overpriced.

Filing papers for the flotation, Google was forced to make public financial details that had previously been private.

The company revealed it made a net profit of $105.6m last year on revenues of $961.9m, much of which comes from selling advertising space linked to keywords.

The web group said it had seen a sharp rise in profits in the first three months of this year to $63.9m - more than double the figure for the same period last year. The documents also showed Google had $454m in cash available at the end of last month.