Uber is set to go public on the New York Stock Exchange (NYSE) on Friday. In anticipation of this, the firm has priced its shares at $45 each, which, in total, makes the whole company worth $82 billion. The firm was expected to select a price between $44 and $50 but opted to go in at the lower end most likely due to the controversy that has plagued the company in recent years.
In total, the firm is looking to sell 180 million shares when trading starts in the U.S. on Friday. The firm will also have an additional 27 million shares available for purchase from existing investors such as directors, co-founder Travis Kalanick, and the Softbank Vision Fund. Those 27 million shares are expected to raise about $1.27 billion.
Once the long-awaited IPO finally gets underway it’ll be very interesting to watch what happens to the price of the company’s shares. The performance will show how confident investors really are in the company and its ability to begin to turn a profit from its myriad of services including Uber’s ride-hailing service, Uber Eats, and Uber Freight.
10 Comments - Add comment