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Lyft rises with an initial public offering of $ 70 to $ 72 per share



<img src = "https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2019/03/22/105809777-1553283670154rts2e6bn.530×298.jpg?v=1553283717" alt = "Logan Green, co-founder and CEO of Lyft, is leaving New York, NY, on March 21, 2019. Shannon Stapleton (19659002) Reuters

Logan Green, co-founder and CEO of Lyft, is leaving the event on March 21 2019 in New York.

Lyft raised its expected IPO stock price range to $ 70 to $ 72 per share filing Wednesday, which had previously expected to record its shares between $ 62 and $ 68.

The company would have a value of approximately $ 20 billion in the updated price range.

Lyft is expected to record its shares on Thursday and go public on Friday on Nasdaq under the ticker LYFT.

by industry leader Uber, according to S-1

filing, released earlier this month. At the end of 2018, Lyft accounted for 39 percent of the US market, an increase of 17 percentage points over two years.

Thus, the company wrote in 2018:

  • Net loss: $ 911 million, an increase of 32 percent from 2017
  • Sales: $ 2.2 billion, twice as much as 2017
  • Bookings: $ 8.1 billion, an increase of 76 percent over 2017

Lyft is one of several major technology companies that are expected to go public this year, including Uber, Pinterest, Zoom and Slack. Uber, the main competitor of Lyft, is expected to release its S-1 in April and go public.

Lyft was inducted three times into the CNBC Disruptor 50 List, finishing fifth on the 2018 list.

J.P.. Morgan, Credit Suisse and Jefferies are the leading subscribers to the offering.


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