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Lyft intends to launch roadshow week starting March 18 for planned IPO

Author : Pankaj Singh | Published Date : 2019-02-22 

Lyft is reportedly preparing to launch the financial roadshow for its planned initial public offering (IPO) during the week of March 18. With this IPO, Lyft would become the first ride-hailing company from the U.S. to debut on the stock market.

Sources familiar with the issue declared that Uber Technologies, the larger size rival of Lyft, will still be needing several additional weeks to prepare for its IPO. Lyft would be able to pitch investors without the concerns of Uber overshadowing it, as the two IPOs seem to be far apart.

Apparently, Lyft estimates that it would now be valued between $20 billion to $25 billion in the IPO and expects the roadshow to last around two weeks. Although both Uber and Lyft did not offer any comments on the reports, the sources indicated that Lyft’s plans were still subject to market conditions and possible changes.

Dow Jones had also reported recently that Lyft could probably make its filing public as early as the coming week and plans to list its shares on the Nasdaq.

For the record, Lyft operates only in the U.S. and Canada, focusing solely on core ride-haling services. Uber, on the other hand, has operations in around 70 countries and is also involved in food delivery, AI research, freight hauling, air taxis and autonomous driving businesses. Sources added that though Uber’s IPO is expected to be valued at up to $120 billion, listing first will enable Lyft to avoid being assessed on the basis of the valuation metrics to be applied to Uber.

Speaking on the competition between the two ride-haling giants, sources mentioned that Lyft had substantially benefited from a spur of scandals Uber was enveloped in 2017, such as sexual harassment allegations reported by its female employees, illicit software usage for deceiving regulators as well as the forced resignation of its CEO.

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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