Lyft expects to raise as much as $2 billion in IPO

[March 18, 2019]  (Reuters) - Ride-hailing platform Lyft Inc said on Monday it would raise as much as $2 billion in its much-awaited initial public offering.

Lyft expects to price 30.77 million shares between $62 and $68 per share, it said in a filing http://bit.ly/2HBtkKE.

At the higher end of the range, the company will have a market valuation of $19.64 billion. The San Francisco, California-based company was seeking a valuation above $20 billion, Reuters reported https://reut.rs/2HAxKS9 on Sunday, citing people familiar with the matter.

Lyft's Chief Executive Logan Green and Vice President John Zimmer together will hold 48.8 percent of voting power after the offering.

The company expects to list on the Nasdaq under the symbol "LYFT".

J.P. Morgan, Credit Suisse and Jefferies are among the lead bookrunners for the listing.

(Reporting by Diptendu Lahiri in Bengaluru; Editing by James Emmanuel)

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