Lyft hopes for big boost from upcoming IPO


Posted on: March 18th, 2019 by ABC News No Comments

Lyft(SAN FRANCISCO) — Uber’s top competition is hoping to get a big lift when its stocks hit the trading floor for the first time.

Lyft has set its value at up to $23 billion as it gears up for its initial public offering, which could come as early as next week.

On Monday, the ride-hailing company kicked off the roadshow for its IPO.

“Lyft is offering 30,770,000 shares of its Class A common stock, plus up to an additional 4,615,500 shares that the underwriters have the option to purchase,” Lyft said in a press release. “The initial public offering price is expected to be between $62.00 and $68.00 per share.”

Shares of Lyft are expected to be traded on the Nasdaq under the “LYFT” ticker symbol.

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