Uber's IPO is reportedly sold-out just three days into its investor road show
- Uber has already found sufficient demand for its initial public offering, Bloomberg reported Tuesday.
- Company executives and bankers underwriting the IPO are on the third day of their roadshow on Tuesday.
- Uber is meeting with investors in New York before heading to the Midwest and San Francisco.
Just three days into its IPO roadshow, Uber has already garnered enough demand to sell its full 180 million shares, Bloomberg reported Tuesday, citing anonymous sources familiar with the matter.
The ride-hailing giant is expected to net a valuation of up to $90 billion when it prices next week on May 9, the company said in updated regulatory filings. That number is down from figures as high as $120 billion that were reported in recent months.Business Insider reported earlier this week that executives and bankers underwriting the offering are heading back to the United States for more meetings with investors in New York, as well as San Francisco and the Midwest.
Uber's biggest competitor, Lyft, which began trading at the end of March, also saw itself with an oversubscribed IPO book. In the roughly one month since its shares began trading, Lyft's market value has fallen about 22%, despite pricing above its originally planned window.
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