Uber to kick investor roadshow with IPO terms on Friday by Reuters
© Reuters. FILE PHOTO: Uber's logo appears on a mobile phone in London, UK By Joshua Franklin and Heather Somerville
(Reuters) – Ride-hailing company Uber Technologies (NYSE 🙂 Inc will uncover the terms of its first public offer On Friday, told investors that it would be valued at between $ 80 billion and $ 90 billion, according to people familiar with the case.
The valuation is less than the $ 1[ads1]20 billion worth of investment bankers told Uber last year, it could retrieve, and closer to the $ 76 billion it achieved in its last private fundraising round last year.
Uber's moderation of valuation expectations reflects the poor stock performance of its smaller competitor Lift Inc (NASDAQ 🙂 after its IPO last month. The lifting shares ended trading on Thursday by 22 per cent from the IPO price among the investor's skepticism over the road to profitability.
On Friday, Uber will uncover an IPO price range of between $ 44 and $ 50 per share, which would increase between $ 8 billion and $ 9 billion, the sources said. The ten-day investor roadshow will kick off on Monday and set the stage for Uber to debut on the New York Stock Exchange in early May.
In addition, some Uber insiders will also sell their own shares in the listing, the sources added. Reuters reported earlier this month that all the Uber shares sold in the listing might be worth around $ 10 billion.
Uber also plans to uncover Friday's last sale of shares as a private company, the sources said. The identity of the investor involved in the private placement could not be immediately learned.
The sources requested not to be identified because the case is confidential. Uber refused to comment.
Uber operates in more than 70 countries. In addition to driving on hailing, the business includes bike and scooter rentals, cargo handling, food delivery and a costly motoring.
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