Uber Technologies Inc., the transportation giant, will become a publicly traded company on the stock market on Friday, under pressure to increase the chances of successful bidding after pricing before the initial offer.
The company estimated the price of one IPO share at $45-50 in order to raise $8.1 billion at a valuation of $82.4 billion at the start of trading, which is much less than the figure of $120 billion predicted last year. But for comparison, even this amount exceeds the capitalization of such famous automotive giants as Ford and General Motors.
Uber will provide 180 million shares and another 27 million will be offered by some investors.
Uber agreed to a lower cost than originally stated in the $48-55 range per share to avoid repeating the story with Lyft, shares of which were rated too high, and later lost a significant portion, about 20 percent of the offering price.
The company's shares will appear under the UBER ticker on Friday and market participants compare this long-awaited initial offering to the Facebook debut 7 years ago.