(by Peter Van Bruggen)

Last month, the Fidelity mutual fund group bought about 27% of Google’s shares available for public.

The purchase dwindled down Google aim to get more individual investors on a democratic shareholder base. That makes its IPO rather a traditional than the one had been expected as the Fidelity is a very big company.

The Fidelity disclosed in its regulatory filing that it had bought over 5.2 million being worth $550 million which is more than 27% of August 19 IPO total. Despite of this, it is only 2% of Google’s total outstanding shares.

Still, it remains unclear when Fidelity get its large block of shares: bought it at the time of the auction or amassed the stake through open-market purchases in the following days.

Fidelity already has 8% stake of Yahoo, Google’s closest rival, 3.5% of Amazon.com and 2% of eBay.