Mexican Media Brands
Lyft Takes First Step in IPO Filing
Ride-hailing service Lyft Inc. says it has confidentially filed a draft registration statement with the SEC regarding an initial public offering.
#economics
Share
Ride-hailing service Lyft Inc. says it has confidentially filed a draft registration statement with the U.S. Securities and Exchange Commission regarding an initial public offering.
The S-1 filing is a brief statement of intent and not a prospectus. The form indicates the approximate date for the IPO but does not ask for the intended price range or number of shares to be offered.
Lyft doesn’t say when the IPO will begin, indicating only that the timing is “subject to market and other conditions.” The company is working with JPMorgan Chase, Credit Suisse and Jefferies Financial to lead the offering, which could occur as early as March, according to Bloomberg News. It says the banks have estimated Lyft’s market valuation between $18 billion and $30 billion.
Rival Uber Technologies Inc. reportedly is planning it own IPO in the first half of 2019. That company’s valuation could be as great as $120 billion, Bloomberg says.
Analysts note that the first company to make an offering presumably will have the best chance of attracting the strongest investor support.
RELATED CONTENT
-
Plastics: The Tortoise and the Hare
Plastic may not be in the news as much as some automotive materials these days, but its gram-by-gram assimilation could accelerate dramatically.
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
-
When Automated Production Turning is the Low-Cost Option
For the right parts, or families of parts, an automated CNC turning cell is simply the least expensive way to produce high-quality parts. Here’s why.
