Report: Uber Plans Initial Price Range Of $44-$50 Per Share

Uber Technologies Inc. plans to announce Friday it will price its first shares between $44 and $50, according to a report from Bloomberg. This would value the company at $80 billion to $90 billion.

Uber is nearing a record $8-$10 billion initial public offering, following ride-hail service rival Lyft Inc. LYFT into the public markets. Lyft went public in March. Uber is planning to list on the New York Stock Exchange under the ticker symbol "UBER."

Bloomberg reported the final details of the price range could still shift before it goes public. Sources told Bloomberg the company is looking to raise $8 billion to $10 billion.

San Francisco-based Uber didn't list a targeted share price when it filed its S-1 filing with the Securities and Exchange Commission. Uber reported 2018 revenue of $11.3 billion in its SEC filing and net income of $997 million.

Lyft, which has a market cap of $16 billion, saw its shares drop after its IPO, and it continues to trade below its initial value.

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