Uber Technologies is reportedly planning to sell shares worth around $10 billion during its initial public offering (IPO). The largest ride-sharing company is seeking a valuation between $90 billion and $100 billion, according to Reuters based on information familiar with the matter.
Last month, Bloomberg reported that Uber selected to list its stock on the New York Stock Exchange (NYSE) and it is targeting a valuation of up to $120 billion.
The largest ride-sharing company is set to publicly file its IPO registration with the Securities and Exchange Commission (SEC) on Thursday. It is expected to start its investor roadshow on April 29 and begin selling its shares on the NYSE early next month.
Many believe that Uber moderated its valuation expectations as Lyft shares are struggling since its public offering last month. Lyft priced its shares at $72 each, and gained almost 9 percent in trading debut. Since then, its shares were performing poorly due to concerns regarding its profitability in the future. On Wednesday, Lyft’s stock price declined more than 10 percent to $60.12 per share.
