Uber to offer rides on its shares in May
Uber's IPO is one of Wall Street's most widely anticipated in years
Uber is planning to pitch shares to investors at an initial range of $44-$50 (about R600-R720) each, lower than its bankers had previously hoped but still putting it on track to become Silicon Valley's biggest initial public offering (IPO) since Facebook. At the top end of the range, Uber would raise as much as $10.4bn from the IPO. The ride-hailing pioneer's IPO is one of Wall Street's most widely anticipated in years, as a herd of highly valued technology companies, including Zoom and Pinterest, rush to the public markets. Uber's initial pricing, revealed in an updated filing on Friday, is higher than its most recent private funding round but below a range suggested to some investors just last month. Uber's conservative pricing could rise following meetings with investors as it approaches next month's listing on the New York Stock Exchange, but it follows an underwhelming stock market debut by rival Lyft, which is trading at more than 20% below its issue price. In addition to its ...
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