Uber to price blockbuster IPO against grim market backdrop

Uber Technologies Inc will price its initial public offering on Thursday, the most high-profile U.S. listing since Facebook Inc seven years ago, against a backdrop of turbulent financial markets and the plunging share price of its U.S. rival Lyft Inc.

Uber, the world’s largest ride-hailing company, is aiming for a valuation of between $80.5 billion and $91.5 billion in the IPO. That is as much as one-third below what the startup’s insiders had hoped for last year, a sign of its more cautious approach in the wake of Lyft’s struggles.A lot of the price talk between Uber and its advisers is focussing around the mid-point of Uber’s $44-$50 per share price range, though no final decision has been made, a person familiar with the matter said.

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