The ride-hailing unicorn Lyft will list Friday on the Nasdaq in the first big tech IPO of 2019.
at $72 per share Thursday evening as the ride-hailing company prepares to start trading its shares publicly on the Nasdaq early Friday, according to a source familiar.disclosed by the company on Wednesday
in an amended S-1 after nearly two weeks of road-show conversations with investors made clear that Wall Street's appetite for shares is high. At $72 per share, the company will raise roughly $2.5 billion in capital, and make its Wall Street debut with a valuation of nearly $21 billion.At $72 per share, Lyft's IPO price is a full $10 above the low end of the $62 to $68 range the companyat the start of its roadshow on March 18. Investor demand was high, and the IPO was reportedly oversubscribed early into its two-week long pitch to potential investors.
The IPO is being closely watched as test of Wall Street's appetite for a new crop of fast-growing, but money-losing sharing economy businesses. Uber, the world's largest ride-hailing company, is expected to list shares in an IPO in the months after Lyft's offering.
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