Lyft reportedly planning to list on Nasdaq in March
The ride-hailing firm plans to launch its roadshow for IPO during the week of March 18th.
On-demand transportation company Lyft Inc is planning to make its debut in the public market around the end of March, a move which could possibly beat rival Uber to the game.
Lyft plans to list its shares on America’s tech-rich Nasdaq, according to a report from The Wall Street Journal on Wednesday. The ride-hailing firm plans to launch its roadshow for its initial public offering (IPO) during the week of March 18th, another news outlet Reuters reported.
Lyft’s valuation is expected to be between US$20 billion and US$25 billion in its IPO, the sources said, but the plan could change due to market conditions.
According to sources, ride-hailing firm Uber still requires a few more weeks for its IPO preparations, which will make Lyft one step ahead of its rival. Both ride-hailing firms are expected to go public this year.
Both Uber and Lyft have declined to comment.
Lyft is focused on the United States (US) market and is available only in the US and Canada and has not deviated much from its core ride-hailing service. Uber on the other hand, is a mammoth in comparison, with operations in about 70 countries, and has its fingers dipped in various businesses including autonomous driving, air taxis, food delivery, and artificial intelligence research, on top of its ride hailing services.
Lyft was last valued at US$15 billion, while Uber’s valuation is more than US$100 billion. A listing for Lyft ahead of Uber would prevent the former from being overshadowed by the latter’s market size.
Lyft had submitted a confidential filing with the United States Securities and Exchange Commission late last year, but there was no mention on the number of shares it expects to offer nor the price range.
Lyft had selected JPMorgan Chase & Co as the lead underwriter of its IPO, together with Credit Suisse Group and Jefferies Group.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
