Lyft Reportedly Plans to File for Initial Public Offering (IPO) Next Week

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Source: Lyft Press Kit

Lyft is planning to file for an initial public offering (IPO) next week and it is targeting a valuation of $20 billion to $25 billion.

The Wall Street Journal and Reuters were the first to report about Lyft’s IPO plans based on information from sources familiar with the matter.

In December, Lyft confidentially submitted a draft registration statement related to the proposed IPO of its common stock with the Securities and Exchange Commission (SEC). At the time, the ride-hailing company said it will launch its IPO once the SEC completes its review process.

On Tuesday, the Wall Street Journal reported that Lyft intends to list its shares on NASDAQ by the end of March.

On the other hand, Reuters reported that the ride-hailing company will start its roadshow for its IPO on March 18. The roadshow is expected to last for two weeks. Lyft’s plans are still subject to change and market conditions, according to sources.

Credit Suisse Group AG, Jefferies Financial Group, and JPMorgan Chase & Co. have been working to lead Lyft’s public offering. These banks proposed a target valuation of $18 billion to $30 billion for the ride-hailing company.