Uber plans to sell around $10 billion worth of stock in IPO - sources

NEW YORK - Uber Technologies Inc has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday.

Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft Inc’s shares following its IPO late last month, the sources said. Investment bankers previously told Uber it could be worth as much as $120 billion.Uber plans to make its IPO registration with the U.S.

In moderating its valuation expectations, Uber is showing a realism that is being increasingly adopted by Silicon Valley unicorns, as stock market investors push back against some of the lofty price tags sought. Uber operates in more than 70 countries. In addition to ride-hailing, its business includes bike and scooter rentals, freight hauling, food delivery, and an expensive self-driving car division.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Uber Is Said to Seek About $10 Billion in Year’s Biggest IPOInvestors could get their first look at hundreds of pages of detailed information about Uber Technologies Inc. as soon as Thursday, as the ride-hailing giant gears up to publicly file for an initial public offering.
Source: dailymaverick - 🏆 3. / 84 Read more »

Survé compares Sagarmatha to Uber, says it would have been valued at $10bn | Business | M&GThe chairperson of Independent Media, Iqbal Survé, compared Sagarmatha to Uber, saying if it had listed on the JSE and then on the New York Stock Exchange he had “no doubt” it would have reached a market capitalisation of $10-billion.
Source: mailandguardian - 🏆 2. / 92 Read more »