Lyft Inc. is pegging its valuation at between $21 billion and $23 billion as the ride-hailing service kicks off the roadshow to market its initial public offering Monday.
The range, equating to between $62 and $68 a share, is preliminary and could change by the time the shares start trading around the end of next week. The company issued a filing outlining the range Monday, confirming a report by The Wall Street Journal on Sunday.
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Lyft to Seek Valuation of Up to $23 Billion in Its IPOLyft plans to peg its valuation at between $21 billion and $23 billion when the ride-hailing service kicks off the roadshow to market its initial public offering Monday, according to people familiar with the matter. Sell A $22b valuation is outrageous. The co. which is not only unprofitable but has bled more and more red ink every year of its existence will have nominal at best corporate governance. ) ) ) ) ( ) ) _(___(____)____(___(__ _ \\ If you can't afford to / \\ pay a living wage, / _ \\ you don't have /___ | \\ a viable / \\ business / \\__________ /
Source: WSJ - 🏆 98. / 63 Read more »
Lyft sets terms of IPO to raise up to $2.1 billionLyft Inc. set terms of its initial public offering, confirming the ride-hailing service is looking to raise up to $2.09 billion. The company said it offering 30.77 million Class A shares to the public, at an expected price of $62 to $68 a share. After the IPO, Lyft will have 271.37 Class A shares outstanding and 12.78 million Class B shares, holders of which will have 20 votes and can convert them into one Class A share, which was one vote. The Wall Street Journal originally reported the terms of the IPO late Sunday, which pegs Lyft's valuation at between $21 billion to $23 billion. The Class A shares have been approved to list on the Nasdaq Global Select Market under the ticker symbol "LYFT." The lead underwriters are J.P. Morgan, Credit Suisse and Jefferies. In 2018, Lyft recorded a net loss of $911.3 million, or $43.04 a share, after a loss of $688.3 million, or $35.53 a share, in 2017. Revenue more than doubled to $2.16 billion from $1.06 billion. Lyft is going public at a time that the Renaissance IPO ETF has run up 28% over the past three months and the S&P 500 has gained 11%. ill wait till it goes down 50% then grab a little. lyft
Source: MarketWatch - 🏆 3. / 97 Read more »