Uber sets IPO price at 45 USD per share

Source: Xinhua| 2019-05-10 14:39:04|Editor: Shi Yinglun
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SAN FRANCISCO, May 9 (Xinhua) -- U.S. ride hailing company Uber Technologies Inc. on Thursday set its price of initial public offering (IPO) at 45 U.S. dollars per share, which was shifting toward the lower end of its stated range of 44 to 50 dollars.

The company said it expected to sell 180 million shares of its common stock, which would enable it to raise 8.1 billion dollars from the market.

Uber said the shares would begin trading on the New York Stock Exchange on May 10, 2019 under the ticker symbol "UBER."

The IPO price would value the U.S. leading ride-hailing company at about 82 billion dollars, making Uber the largest IPO since China's e-commerce behemoth Alibaba Group Holding Ltd. went public to raise 25 billion dollars in 2014.

Uber filed for its IPO with the U.S. Securities and Exchange Commission last month with reported revenues of 11.27 billion dollars and a net income of 997 million dollars in 2018.

Morgan Stanley, Goldman Sachs & Co. LLC and BofA Merrill Lynch will be the lead book-running managers for the offering, said Uber.

Other major investors include Barclays, Citigroup and Allen & Company LLC, it added.