Lyft hopes to be valued at up to $23 billion in its initial public offering, the ride-hailing company said in a regulatory filing on Monday as it entered the final stage of its push to become the next big publicly traded technology start-up in the United States. The target value is significantly greater than the $15.1 billion Lyft’s was valued at in its last private funding round last year. The filing, an updated prospectus, coincided with the start of the company’s so-called road show, a two-week run of meetings during which Lyft executives and advisers will try to persuade prospective investors to grab a piece of what will probably be one of the year’s biggest public offerings — at least until Lyft’s ride-hailing rival, Uber, proceeds with its own offering in the next few months. The new prospectus proposes a high-end share price of $62 to $68, a range that would generate about $2.1 billion, and perhaps as much as $2.4 billion if demand for shares is great enough for the company to increase the number it makes available.

Source: New York Times March 18, 2019 14:01 UTC