Lyft, expected to hit to public markets in a landmark initial public offering Friday, has increased the price per shares of its stock. In a new filing published Wednesday afternoon, the company indicated a price per share of between $70 and $72.
In an amended IPO prospectus last week, the company said it would sell 30.7 million shares at between $62 and $68 a piece. Following high demand from Wall Street — its IPO was said to be oversubscribed on the second day of its roadshow — Lyft has opted to ask for more from its public market investors.
If Lyft sells 30.7 million shares at $72 apiece, it will bring in more than $2.2 billion at an initial valuation north of $20 billion. Lyft was previously valued at $15.1 billion by private market investors with a $600 million Series I round in 2018.
Written by Kate Clark
This news first appeared on https://techcrunch.com/2019/03/27/lyft-increases-ipo-price/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Lyft increases IPO price”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
