Uber CEO Dara Khosrowshahi, third from left, rings the opening bell at the New York Stock Exchange on Friday.
In distributing the stock, Uber prioritized shareholders — particularly institutional investors — that it thinks will hold on to the shares for a long time, according to a person familiar with the matter. The company is hoping to avoid the tumultuous first weeks of trading in rival Lyft Inc., whose shares fell below its $72 IPO price within days of listing and closed 23% below that price Thursday.
This year, widely expected to be the busiest for mega U.S. tech listings so far this century, started with a partial government shutdown that shuttered the agency that approves IPO documents for 35 days, all but killing activity in the first quarter. After submitting its confidential filing in December, Uber — along with Lyft and a host of other hopefuls — was left sitting on the sidelines while U.S. stocks enjoyed the best start to a year in at least a decade.
Khosrowshahi’s compensation post-IPO, meanwhile, will reward him handsomely if he brings Uber’s public valuation to $120 billion over a 90-day span.Uber’s executives and advisors settled on a final IPO price after spending the last couple of weeks pitching to potential investors at roadshow events in New York, London, San Francisco and other cities.
Make it public my marriage w Leo DiCaprio
Boycott boycott boycott boycott boycott.
It's just an app. Hope all the speculators lose big.
Sverige Senaste nytt, Sverige Rubriker
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