Lyft, the ride-hailing company, is aiming for the biggest US technology listing in two years as it seeks to raise up to $2.1bn at a valuation of almost $23bn.
The San Francisco-based company suggested a price range of $62 to $68 per share in an updated filing yesterday to the US Securities and Exchange Commission, as it kicked off its investor roadshow. A $22.9bn valuation, at the top of the range and on a fully diluted basis, would be the biggest offering by a US tech group since Snap went public in 2017, according to Dealogic.
The filing gives the first indication of how ride-sharing companies could be valued. Lyft’s IPO is expected to be followed by its larger rival Uber, as soon as next month, which may fetch a market valuation topping $100bn.