Lyft Inc's initial public offering (IPO) is oversubscribed based on commitm...
NEW YORK - Lyft Inc’s initial public offering is oversubscribed based on commitments made so far by investors, making it more likely that the ride-hailing startup will fetch or even exceed the $23 billion valuation it is seeking, people familiar with the matter said on Tuesday.
Lyft started its IPO road show on Monday and has spent the last two days meeting with investors in New York, the sources said. It has set an indicative IPO price range of $62 to $68 per share and is set to price the IPO on March 28. There will be more meetings in Boston and New York 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.
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