Lyft wants to raise more than $2bn in IPO
At the targeted range, Lyft's offering will be the biggest from a tech upstart since Snap went public two years ago
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...
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