Lyft leaves investors with options – and questions richardbeales1
San Francisco-based Lyft said in a regulatory filing on March 18 that it aims to raise up to $2.4 billion in its initial public offering. Reuters first reported the details a day earlier, citing people familiar with the matter.
In its filing, the U.S.-focused ride-hailing company said it plans to sell over 30 million Class A shares, which have fewer voting rights than the Class B shares, at between $62 and $68 per share. The company is scheduled to debut on Nasdaq on March 29 under the symbol “LYFT.” On a diluted basis, including options outstanding and stock units that vested or were awarded after Dec. 31, 2018, the company’s market capitalization could reach $23 billion at the top end of the stated price range.
Larger rival Uber Technologies is also readying an IPO, with a potential target valuation of up to $120 billion, Reuters has reported.
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