Uber aims for $84bn valuation in year's largest IPO | Fin24
  • Still falling

    Annual consumer price inflation has dipped to its lowest level in 9 years.

  • Sabotage at Eskom

    President Cyril Ramaphosa says sabotage contributed to power cuts earlier in the week.

  • Digital Banking

    TymeBank says it will be switching gears in a bid to triple its size by the end of 2020.


Uber aims for $84bn valuation in year's largest IPO

Apr 26 2019 13:55
Olivia Zaleski and Eric Newcomer, Bloomberg

Uber Technologies is seeking to raise as much as $9bn in an initial public offering that could give the ride-hailing giant a market valuation of as much as $84bn.

The No. 1 ride-hailing company plans to offer 180 million shares at $44 to $50 each, according to a regulatory filing Friday.

The filing puts Uber on track to make its trading debut in May on the New York Stock Exchange in what is expected to be the year’s biggest US IPO.

At the top of the range the listing would value Uber at almost $84bn, based on the number of shares outstanding after the offering, as detailed in the filing. On a fully diluted basis, including the addition of stock options, restricted shares or other stakes not included in the outstanding total, the valuation could top $91.5bn.

At the targeted range, San Francisco-based Uber’s offering will be among the 10 largest US IPOs of all time and the biggest on a US exchange since Alibaba’s $25bn global record holder in 2014.

In March, ride-hailing rival Lyft raised $2.34bn in its IPO - the year’s biggest so far - amid a swarm of listings by tech-related companies including Pinterest and Zoom Video Communications.



Company Snapshot

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote