Lyft, Inc. has announced the pricing of its initial public offering for $72.00 per share and is offering 32,500,000 shares of its Class A common stock and another 4,875,000 shares that the underwriters have the option to purchase, the company said in a statement.
The company’s IPO values the company at $24.3 billion
The ride-hailing company started trading on the Nasdaq Global Select Market on 29th March 2019 under the ticker symbol “LYFT,” and the trading closes on April 2, 2019.
Lyft has surpassed its initial pricing target of $62 a share to $68 a share and if well executed, the firm will raise $2.3 billion for the company—or $2.7 billion
In 2018, Lyft was valued at $15.1 billion when it raised $600 million in a private round of investment.
Rival firm, Uber is expected to file its IPO in April, an offering which could value the company between $100 billion and $120 billion.