Market Overview

Report: Uber Plans Initial Price Range Of $44-$50 Per Share

Share:
Report: Uber Plans Initial Price Range Of $44-$50 Per Share

Uber Technologies Inc. plans to announce Friday it will price its first shares between $44 and $50, according to a report from Bloomberg. This would value the company at $80 billion to $90 billion.

Uber is nearing a record $8-$10 billion initial public offering, following ride-hail service rival Lyft Inc. (NASDAQ: LYFT) into the public markets. Lyft went public in March. Uber is planning to list on the New York Stock Exchange under the ticker symbol "UBER."

Bloomberg reported the final details of the price range could still shift before it goes public. Sources told Bloomberg the company is looking to raise $8 billion to $10 billion.

Invest in IPO shares before the stock hits the market with ClickIPO. Check it out here

San Francisco-based Uber didn't list a targeted share price when it filed its S-1 filing with the Securities and Exchange Commission. Uber reported 2018 revenue of $11.3 billion in its SEC filing and net income of $997 million.

Lyft, which has a market cap of $16 billion, saw its shares drop after its IPO, and it continues to trade below its initial value.

Related Links:

Guggenheim: Uber's Pre-IPO Numbers Give Insight On Lyft's Business

On Its Way: Uber Plans To Sell $10B Of Stock In May IPO

Posted-In: Bloomberg Lyft UberNews Rumors IPOs Best of Benzinga

 

Related Articles (UBER + LYFT)

View Comments and Join the Discussion!

Boeing, WWE, Natural Gas And EEM: 'Fast Money Halftime Report' Picks For April 25

Pete Najarian Sees Unusual Options Activity In Marvell And Occidental