San Francisco-based Lyft has only been on the road marketing its initial public offering for two days, but investors have already been informed that the listing is oversubscribed at the current price range, said people familiar with the matter, who asked not to be identified because the details are private.
Lyft is expected to price its shares on March 28 and begin trading on the Nasdaq the next day. If excessive demand continues, the company could decide to sell more shares or price them above the original range of $62 to $68 a share. A spokeswoman for Lyft declined to comment. Reuters reported earlier Tuesday that Lyft’s offering was oversubscribed.Facebook Inc. and Snap Inc. were each oversubscribed before their IPOs.
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