NEW YORK: Uber Technologies Inc will price its initial public offering on Thursday , the most high-profile US listing since Facebook Inc seven years ago, against a backdrop of turbulent financial markets and the plunging share price of its US rival Lyft Inc.
A lot of the price talk between Uber and its advisers is focusing around the mid-point of Uber's US$44-US$50 per share price range, though no final decision has been made, a person familiar with the matter said."Uber is basically Lyft 2.0. Good model, growing sales. But, yet again, here comes California math once more. It is still losing a ton of money," said Brian Hamilton, a tech entrepreneur and founder of data firm Sageworks.
The company is hoping this pitch, coupled with any fear of missing out what is expected to be the biggest IPO of 2019, will support demand.