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San Francisco-based Lyft said in a regulatory filing on Monday that it plans to sell a little more than 30 million class A shares, which have fewer voting rights than class B shares, at between $62 and $68 per share. It aims to raise up to $2 billion in its IPO at a fully diluted valuation of as much as $23 billion, which includes restricted stock. The company would fetch a public market capitalization, which counts only shares listed, of just over $19 billion at the top end of the indicated price range.

Lyft is on track to be the biggest U.S, technology IPO since Snap Inc in 2017, and would be the tenth-largest technology or internet IPO of gold cufflinks macy's all time in the United States, according to data provider Dealogic, Lyft begins its IPO road show in New York on Monday and Tuesday, The company will have meetings in Boston and New York later this week between investors and co-founders Logan Green and John Zimmer, as well as Chief Financial Officer Brian Roberts and Catherine Buan, vice president of investor relations..

The road show will move to the U.S. Midwest and West Coast next week. The company is scheduled to debut on Nasdaq on March 29 under the symbol “LYFT.”. Uber hopes for a valuation of as much as $120 billion, according to sources, although some analysts have pegged it closer to $100 billion based on selected financial figures it has disclosed. Uber is planning to kick off its IPO in April, Reuters has reported. Uber, which promotes itself as a global logistics and transportation company, is much larger and more diverse than Lyft, whose core focus remains ride-hailing.

Lyft will pitch investors on the simplicity of its business, while Uber is expected to play up its more diversified strategy, according to people familiar with the matter, After gold cufflinks macy's Lyft’s IPO, Green, the CEO, and Zimmer, the firm’s president, will collectively have just shy of 50 percent of the company’s voting rights, Their stakes would be worth $569.4 million and $392.7 million respectively, if the IPO prices at the top its target range, Their firm grip on the company has been criticized by some investors focused on corporate governance..

“Lyft’s dual-class share structure leaves investors virtually powerless. This is highly risky for long-horizon investors and for the integrity of the capital markets,” Ken Bertsch, executive director of the Council of Institutional Investors, said in a statement earlier this month. Lyft has nearly 40 percent of the U.S. ride-sharing market, but has warned that further growth could come at the expense of more losses for a company already deep in the red. Lyft’s revenue was $2.16 billion for 2018, double the previous year’s and far higher than $343 million in 2016. It posted a loss of $911 million in 2018 versus $688 million in 2017.

DETROIT (Reuters) - As Lyft Inc cruises toward an initial public offering this month, one of the big winners will be General Motors Co, whose stake in the ride-hailing firm could be worth as much as $1.27 billion, GM is not talking about its plans for that investment, and investors polled by Reuters, owning a collective 35.7 million shares, do not have a consensus view, Some believe the No, 1 U.S, automaker should hold on to it for strategic gold cufflinks macy's reasons, while others want the money returned to shareholders through buybacks or a special dividend..

“Unless GM can leverage its investment in Lyft to accelerate its own robo-taxi ambitions with Cruise, we believe it would be appropriate to cash out its stake to repurchase its own under-valued shares,” said Michael Razewski, a partner with Douglas C. Lane & Associates, which owned about 2.6 million GM shares at the end of 2018. Cruise Automation is GM’s self-driving car unit. Lyft on Monday launched the investor “roadshow” for the March 29 IPO, and it said it to sell Class A shares at $62 to $68 a share.

GM owns more than 18.6 million Class A shares, according to the Lyft filing, meaning its investment at the outset could be worth $1.16 billion to $1.27 billion, GM invested $500 million in Lyft in January 2016, With a 180-day lock-up period during which GM cannot sell and the expected April IPO of larger rival Uber Technologies Inc further stoking interest in the ride-hailing sector, the value could subsequently rise, GM spokesman Tom Henderson said the automaker is happy with its Lyft stake, but declined to discuss future plans for the shares, Lyft spokeswoman Alexandra LaManna had gold cufflinks macy's no comment..



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