IPOs & Markets
Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft Inc's shares following
It is anticipated that the Blackstone fund will overtake Apollo Global's $24.6-billion fund as the largest ever.
Lyft's valuation makes it the biggest company to go public since Alibaba Group Holding Ltd in 2014.
Lyft raised its IPO price range to between $70 and $72 per share, meaning the ride-hailing company is now targeting a valuation of up to $24.3 billion
Foxconn sold 2.2 million Alibaba shares on Wednesday at $181.10 per share.
Lyft's progress in its IPO could bode well for larger rival Uber Technologies Inc, which is said to be planning to kick off its IPO in April.
Lyft's IPO will mark the first time a ride-hailing company has debuted on the US public markets.
The preparations are aimed at giving Uber the flexibility to go public as early as the first half of 2019.
Lyft expects to be valued at between $20 billion and $25 billion in its IPO, and the roadshow is expected to last about two weeks.
Lyft is under pressure to sell investors on its prospects as it races neck-and-neck with Uber to an IPO that could take place in the second quarter of
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