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Lyft is beating Uber in the race to go public. | Source: REUTERS/Chris Helgren/File Photo
Ride-hailing company and Uber competitor Lyft will go public with 30.8 million shares at between $62 to $68 a pop.
The announcement would value Lyft at $19.46 billion at the upper end of the spectrum. In total, Lyft will aim to raise $2 billion in the IPO.
Per the Securities and Exchange Commission filing, Lyft will issue two classes of common stock, Class A and Class B with adjusted voting powers.
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Despite accumulating substantial losses, Lyft has recorded rising revenue and bookings as it takes on rival Uber in the ride-hailing race. With 30.7 million users in 2018, Lyft is one of the most anticipated IPOs of the year, beating Uber to the stock market.
This story is developing…
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