Uber Planned to Sell $10 billion stock in IPO !!!

drakoscliff (55)in #news • 5 years ago

Uber technologies have decided to sell around $10 billion worth of stock in its initial public offering and will make public the registration of offering. An IPO of this size will mention the name of Uber in one of the biggest technology IPOs of all time and will be the largest since Chinese e-commerce giant Alibaba Group Holding in year 2014.

Uber is seeking for the valuation of between $90 billion and $100 billion which is influenced by the poor performance of small rival Lyft Inc’s shares.

Investment banks told him Uber that it will be worth $120 billion and Uber’s recently value is $76 billion in private fund-raising market.

Most of the shares to be sold will be issued by the company and the small portion will be owned by the Uber investors cashing out said by one of the sources.

Uber has planned to make its own IPO registration with US securities and Exchange Commission’s publicly.

The sources have also cautioned that the plans are still subject to change and market conditions and is asked not to be identified because the matter is confidential and a representative of Uber declined to comment too.

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Source of Information: https://timesofindia.indiatimes.com/