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(Reuters) – Uber Technologies Inc [UBER.UL] could be valued at $ 120 billion when it will finally be released next year, according to recent proposals from US banks, reported Tuesday the Wall Street Journal, citing people close to the file.
FILE PHOTO: The Uber logo is posted on a cellphone in London, September 14, 2018. REUTERS / Hannah Mckay / File Photo
The company's most recent valuation was valued at $ 76 billion, following a $ 500 million investment by Toyota Motor Corp. (7203.T) in August.
Reuters announced at the end of September that Goldman Sachs and Morgan Stanley were in pole position to secure the best roles at Uber's IPO.
Goldman Sachs and Morgan Stanley submitted the evaluation proposals to Uber last month, according to the WSJ report.
Uber and his rival Lyft are actively preparing to go public next year. Although Lyft hired the class V Group LLC IPO, Uber is behind schedule.
Uber hired Nelson Chai as chief financial officer in August to fill a long-standing vacancy and pave the way for his long-awaited IPO.
Uber declined to comment on the WSJ report.
Reportage of Munsif Vengattil and Akanksha Rana in Bengaluru; Edited by Arun Koyyur and Saumyadeb Chakrabarty
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