The US ride-hailing company Lyft said that they are targeting 23 billion dollars in valuation with their IPO. The company is selling 30 million A class shares and Lyft is aiming to raise 2 billion dollars.
The company started their roadshow in New York and they will move to Boston. The US Midwest and West Coast will be next week. The trading is expected to start on the March 29th in Nasdaq, with the “LYFT” symbol.
Lyft’s revenue was 2,16 billion dollars in 2018 and the losses were 911 million dollars compared a 688 million dollar loss a year earlier.
One of the leading bookrunners are JPMorgan, Credit Suisse anf Jefferies.
According to Reuters, the rival Uber is also planning an IPO, targeting 120 billion dollars valuation in April this year.