Uber now officially a public company after high-profile IPO
New York/Bengaluru — Ride services giant Uber Technologies will begin life as a public company on Friday, under pressure to start trading strongly after conservatively pricing its initial public offering (IPO). The start of trading comes after Uber, on Thursday, priced its IPO at $45 a share, at the lower end of its $44-$50 per share target range, to raise $8.1bn at an $82.4bn valuation. The IPO was over-subscribed, but Uber settled for a lower price to avoid a repeat of Lyft’s IPO in late March, which priced strongly, began trading up, then plunged.
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