Uber NYSE listing, details aren’t public

0
95

Uber NYSE listing, details aren’t public.

Uber Technologies has selected the New York Stock Exchange for its imminent initial public offering, handing the trading floor what could be one of the five biggest listings of all time, according to a person familiar with the matter, who asked not to be identified as the details aren’t public.

The ride-hailing giant is expected to publicly file for its offering in April, kicking off a listing that could value the company at as much as $120 billion and is likely to be the biggest of the year, people familiar with the plans have said previously. At that valuation, Uber would only have to float about 16% of its shares to make the top five, according to data compiled by Bloomberg.

READ  Tuesday rain, snow showers expected (Reports)

By selecting the iconic trading floor in the heart of Wall Street, Uber is diverging from rival Lyft, which will start trading next week on the Nasdaq Global Select Market. Many technology giants, including Alphabet’s Google, Microsoft, and Apple trade on Nasdaq, which was once the dominant exchange for tech upstarts going public. Representatives for Uber and the New York Stock Exchange declined to comment.

READ  Lime recalled scooters fearing some could catch fire (Reports)

Since a technical glitch dogged Facebook’s Nasdaq listing seven years ago, the NYSE has attracted large tech companies including Alibaba Group Holding’s record $25 billion in 2014 offering, Twitter’s 2013 IPO and Snap’s debut in 2017.

READ  Pledge of Allegiance sixth-grader Florida, unnamed boy was charged

It doesn’t hurt that Uber’s Chief Financial Officer Nelson Chai once served as the finance chief of the NYSE, and Uber board member John Thain served as its chief executive officer from 2004 to 2007. NYSE is owned by Intercontinental Exchange Inc. after the Atlanta-based exchanges giant acquired NYSE Euronext for more than $10 billion in 2013.

LEAVE A REPLY

Please enter your comment!
Please enter your name here