Lyft invites bank pitches for underwriting 2019 IPO

Lyft invites bank pitches for underwriting 2019 IPO

A Lyft Inc. decal is displayed on a car window in Los Angeles, California, U.S., on Monday, Nov. 13, 2017. Photographer: Patrick T. Fallon/Bloomberg

Lyft Inc., the second-largest U.S. ride-hailing company, has asked banks to submit formal pitches to underwrite an initial public offering next year, people familiar with the matter said.

Evaluating IPO bankers and issuing formal underwriter mandates is the next step in what could be the first of several listings by ride-hailing businesses. Lyft is targeting March or April for the offering, said the people, who asked not to be identified because the matter is private. Larger rival Uber Technologies Inc. has said it too is aiming to list next year.

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