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

Credit: CC0 Public Domain

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."

© 2019 AFP

Citation: Uber to price IPO at $45, valuing company at $82 bn: source (2019, May 9) retrieved 24 February 2024 from https://phys.org/news/2019-05-uber-price-ipo-valuing-company.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.

Explore further

Uber aiming for stock market debut value of up to $90 bn: report


Feedback to editors