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- Uber has chosen the New York Stock Exchange for its upcoming initial public offering (IPO), according to Bloomberg.
- The ride-hailing company is expected to publicly file for an IPO in April at a valuation that could hit as high as $120 billion.
- Meanwhile, Uber’s rival Lyft is revving up its own IPO on the other major US stock exchange, the Nasdaq.
- Lyft is expected to start trading at the end of next week.
The competition between Uber and Lyft has no bounds.
Just days before Lyft is set to go public on the Nasdaq, Uber has chosen the rival New York Stock Exchange (NYSE) for its own forthcoming initial public offering (IPO), according to Bloomberg.
Uber, which is reportedly expected to file publicly in April, could hit the public markets at a valuation as high as $120 billion. That means Uber will bring the NYSE along for the ride on what will likely be the largest IPO of 2019.
Lyft is expected to start trading at the end of next week on the Nasdaq.
While all eyes are on Lyft as a test of the economy and public markets, its IPO is considerably smaller. Lyft is expected to price around or above $23 billion, the high end of the proposed valuation the company shared in an updated registration statement on Monday.
In addition to choosing different exchanges, the competing companies have taken steps to ensure they don’t have too many of the same banks on their IPOs either, according to people familiar with the IPOs.
On Thursday, the jean company Levi Strauss went public on the NYSE, and Pinterest is reportedly planning to list with the same exchange in April.
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- Lyft is seeking a valuation of up to $23 billion as it embarks on its IPO road show
Source: Business Insider – bpeterson@businessinsider.com (Becky Peterson)