Uber sets $44-$50 per share price for IPO, posts $1 bln Q1 loss

The company will sell 180 million shares in the offering. (File photo: Reuters)

Ride-hailing company Uber Technologies Inc unveiled terms for its initial public offering on Friday, telling investors it would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

In a regulatory filing, Uber set a target price range of $44-$50 per share for its IPO. The company will sell 180 million shares in the offering, with a further 27 million sold by insiders.

In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 14:04 - GMT 11:04
Top