Uber picks NYSE for its US$120bn IPO next month – media reports
Uber has reportedly picked the New York Stock Exchange for its upcoming and highly-anticipated initial public offering, which could value the taxi and food delivery app at as much as US$120bn (£91bn).
The decision, which was first reported by Bloomberg, hands the exchange what will almost certainly be its biggest listing of 2019 and one of its five largest of all time.
Alibaba Group Holding Ltd (NYSE:BAB) holds the record after it sold US$25bn worth of shares on its NYSE debut in 2014.
READ: Uber files for IPO as it kicks off race to float with rival Lyft
To get itself in the top five, Uber, which is said to be looking to go public in April, would have to float around 16% of its shares.
The decision to go with the NYSE and its iconic Wall Street trading floor means Uber will take a different IPO route to its smaller rival, Lyft, which will start trading next week on the Nasdaq.
That exchange has traditionally been the go-to exchange for tech giants and boasts the likes of Alphabet Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL).
But since a technical glitch during Facebook Inc’s (NASDAQ:FB) Nasdaq flotation in 2012, the NYSE has managed to attract large tech companies such as Twitter Inc (NYSE:TWTR), Snap Inc (NYSE:SNAP) and Alibaba Group Holding Ltd (NYSE:BAB).
The NYSE has no doubt been aided by its Uber connections. The company’s chief financial officer Nelson Chai was once the finance boss of the exchange, while Uber board member John Thain enjoyed a three-year stint as the NYSE’s chief executive in the mid-noughties.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/217032/uber-picks-nyse-for-its-us120bn-ipo-next-month--media-reports-217032.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).