Uber Considers Pricing IPO Stock Toward Middle of Range
This article is for subscribers only.
Uber Technologies Inc. is considering pricing shares in its initial public offering at the midpoint of the marketed range or slightly below, according to a person familiar with the matter, though that could still change before the official pricing is determined.
With an order book that’s at least three times oversubscribed, the ride-hailing company has enough investor demand to sell shares at the top end of the range, separate people familiar with the matter said Tuesday, all of whom asked not to be identified as the details are private. But the performance of rival Lyft Inc., which soared on its debut after increasing the price range and has since dropped more than 25%, is weighing on executives’ minds as they market the stock.