The people familiar with this matter stated that the New York Stock Exchange has been opted by Uber Technologies Inc. for its impending initial public offering (IPO). However, the company itself hasn’t officially disclosed yet.
They also revealed that the ride-hailing giant is anticipated to file for its IPO in the month of April, commencing an inventory that could rate the company on the basis of financial value to the maximum of $120 Billion and is expected to be the biggest of the Year 2019. Based on the approval of maximum expected valuation, Uber would only have to set just around 16% of its shares on trade to be among the top five, as per Bloomberg’s information.
Uber’s rival Lyft has already chosen its trading floor as Nasdaq Global Select Market, where most of the tech giants such as Microsoft Corp., Google, and Apple Inc. have been trading. No comments have been passed by the representatives of the New York Stock Exchange and Uber on this matter.
Nelson Chai, who had worked for NYSE as the finance chief is now designated as the Chief Financial Officer at Uber.
The flashback of the Year 2014 seems to be appearing now again. Formerly, the rivalry was between JD.com and Alibaba to go public. At that time, Alibaba chose NYSE and JD.com opted for NASDAQ. Now, the companies have been replaced with Lyft and Uber.
Both Uber and Lyft confidentially filed for IPO in the month of December and surprisingly on the same day. However, Lyft has since surpassed Uber in the race to go public. Lyft started to publicize its stock in the market last week, having a conference with shareholders in Boston and New York. Comparing the last year’s revenue, Lyft generated just 20% of Uber’s $11.4 Billion in revenue.
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