Uber is seeking to raise some $10-billion in what would be the largest stock offering of the year.
Lyft shares rose on the first day of trading and then lost ground. On Wednesday, shares were trading down more than 10 percent from the $72 offering price.
The Journal, citing unnamed sources, said Uber recently provided documents showing a potential price range of between $48 and $55 a share, implying a valuation of between $90-billion and $100-billion. These figures could change ahead of the market launch but would be below the estimated $120-billion suggested by some investment bankers, according to the report.Uber released financial data earlier this year showing it lost $865-million in the fourth quarter of 2018, compared with $1.1-billion in the same period a year earlier.
The San Francisco-based firm reported revenue of $3-billion, a 25 percent increase from a year earlier. Chief executive Dara Khosrowshahi has promised greater transparency as he seeks to restore confidence in the global ridesharing leader hit by a wave of misconduct scandals.
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