Deals
Uber’s Conservative IPO Valuation Faces Public Market Test
- Listing at $45 a share gives a market value of $75.5 billion
- Executives rang NYSE opening bell alongside Uber drivers
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Uber Technologies Inc. took a conservative approach to its initial public offering Thursday, picking a share price toward the bottom of the marketed range and at a valuation below its last private funding round. On Friday, public market investors will get to decide whether that was a good idea.
The No. 1 ride-hailing company’s shares will start trading on the New York Stock Exchange after it raised $8.1 billion in the biggest U.S. IPO since 2014, pricing shares at $45 each. It had marketed them for $44 to $50 apiece.