Lyft IPO to Price Higher than Expected Due to Strong Demand

0
566
Lyft IPO to Price Higher than Expected Due to Strong Demand

It will cost investors a little more than they thought to ride Lyft’s (LYFT) initial public offering on Friday.

The Wall Street Journal reported yesterday that the ride-sharing company has met with such strong demand for its IPO that the shares will likely price above the $62-$68 range. We’ll know more tomorrow afternoon when investment bankers set the official value.

LYFT’s IPO is the first in a series of highly anticipated technology deals. Larger rival Uber (UBER) will follow as early as next month. Others like Pinterest (PINS) and Airbnb are also in the works.

Last week, Levi Strauss (LEVI) successfully priced its IPO above the expected range. Demand was so strong for the apparel company that it’s up about 30 percent from that level.

Other names currently in market include Precision Biosciences (DTIL) and Tradeweb Markets (TW), according to our partner, ClickIPO.

ClickIPO preview of upcoming offerings, including Lyft and Pinterest.
ClickIPO preview of upcoming offerings, including Lyft and Pinterest.
Advertisement