Upcoming IPO: Uber, Pinterest Reportedly Pick NYSE for Stock Listing

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Uber Technologies and Pinterest reportedly selected the New York Stock Exchange (NYSE) as the place for trading its stocks. Both technology companies are preparing for an initial public offering (IPO) this year.

On Thursday, Bloomberg first reported Uber decided to list its stock at the NYSE based on information from a person familiar with the matter. The largest ride-sharing company is seeking a valuation of up to $120 billion, which could be the largest IPO this year.

Uber only needs to float around 16 percent of its shares to reach that valuation and make it to the top five, according data compiled by Bloomberg.

The ride-sharing giant is expected to submit its IPO registration with the Securities and Exchange Commission (SEC) next month.

Uber highly likely to trade shares soon after Lyft IPO

Earlier this month, its smaller competitor Lyft launched its IPO and listed its stock on the NASDAQ. It is seeking to raise $100 million to achieve a valuation of $23 billion.

It is highly likely that Uber will be trading its shares on the public markets soon after Lyft’s IPO on March 29.