Uber to price IPO at $45, valuing company at $82 bn: source

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Uber was preparing a share offering that values the global ridesharing giant at up to $82 billion, a source familiar with the deal said Thursday.

The banking source said Uber's pricing ahead of its Wall Street debut was set for $45 a share, lower than some earlier estimates in light of a rocky market start for US rival Lyft.

Uber's would be at least $75 billion, and $82 billion if all pending and grants are included.

Uber had previously set a range of $44 to $50 a share, which would still make it one of the largest initial public offerings from the .

The launch is seen as a milestone for the ride-hailing industry and the so-called "sharing economy," but which comes amid simmering concerns about its business model.

Shares were set to trade on the New York Stock Exchange from Friday under the ticker "UBER."


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Citation: Uber to price IPO at $45, valuing company at $82 bn: source (2019, May 9) retrieved 25 May 2019 from https://phys.org/news/2019-05-uber-price-ipo-valuing-company.html
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