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- Uber plans to raise more than $10.3 billion in its initial public offering, potentially giving it a market capitalization of $90 billion.
- The ride-hailing giant will offer 180 million shares at a price between $44 and $50 per share.
Uber plans to raise upwards of $10.3 billion in one of the largest initial public offerings in history, according to a SEC filing published on Friday.
The ride-hailing giant will offer 180 million shares at a price between $44 and $50 per share, giving it a prospective market cap between $79 billion and $90 billion. It plans to list its shares under the symbol UBER.
PayPal has agreed to purchase $500 million in Uber stock in a private placement at the IPO price.
This story is developing. Check back for updates.
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SEE ALSO: https://www.businessinsider.com/uber-ipo-what-to-expect-files-to-go-public-2019-4?r=US&IR=T
Source: Business Insider – tmohamed@businessinsider.com (Theron Mohamed)