Uber kicks off Friday roadshow with terms of IPO for investors By Reuters

By Joshua Franklin and Heather Somerville

(Reuters) – US company Uber Technologies (NYSE: Inc.) will unveil on Friday the terms of its initial public offering, telling investors that it would target between $ 80 billion and $ 90 billion, according to sources close to the record. .

The appraisal requested is lower than the $ 120 billion valuation that investment banks announced at Uber last year and could move closer to the $ 76-billion valuation dollars reached during last year 's last private fundraiser.

The moderation of Uber's valuation expectations reflects the poor performance of its smallest rival on equities Lyft Inc. (NASDAQ 🙂 after its IPO last month. Lyft shares sold Thursday, down 22 percent from the IPO price, while investors were skeptical about its profitability.

Uber will reveal Friday a price range between $ 44 and $ 50 per share, on the basis of which it will collect between $ 8 and $ 9 billion, said sources. The ten-day investor tour will begin on Monday, setting the stage for Uber to debut on the New York Stock Exchange in early May.

In addition, some Uber insiders will also sell their own shares during the IPO, the sources added. Reuters announced earlier this month that all Uber shares sold at the IPO could be worth around $ 10 billion.

Uber also plans to unveil Friday its latest share sale as a private company, sources said. The identity of the investor involved in the private placement could not be learned immediately.

The sources asked not to be identified because the case is confidential. Uber refused to comment.

Uber operates in more than 70 countries. In addition to sailing, her business includes bike and scooter rentals, freight transportation, food delivery and an expensive division of autonomous cars.