San Francisco — Lyft is seeking to raise as much as $2.1bn in its initial public offering, valuing the firm at almost $20bn. The number two US ride-hailing giant is offering 30.8-million shares at $62-$68 each, it said in a regulatory filing Monday. At the top of that range and including a potential over-allotment of shares to investors the market valuation would reach $19.6bn, based on the total numbers of shares outstanding after the IPO as detailed in the filing. At the targeted range, the San Francisco-based company’s offering will be the biggest from a tech upstart since Snap went public two years ago, and the largest in the US so far in 2019 after the partial US government shutdown put a damper on first-quarter listings. Including the money Lyft is expecting to raise from the IPO as well as some likely dilution of shares, the total valuation of the company could be $21bn-$23bn, according to a person familiar with the matter. Lyft had earlier been aiming for a valuation of $20b...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now