- Uber is expected to price its initial public offering on Thursday May 9, according to a source familiar with the schedule.
- Executives and bankers began the company’s IPO roadshow on Friday in New York, with planned stops in London, San Francisco, and the Midwest United States.
- The schedule is being tightly held to avoid press and protesters, like those that confronted Lyft in March.
Uber’s massive initial public offering is kicking into high-gear this week.
In an updated filing with the Securities and Exchange Commission on Friday, the US ride-hailing giant said it will sell 180 million shares for a price between $44 and $50 each, resulting in a valuation of up to $90 billion.
Uber’s executives and bankers working to underwrite the offering will set out on a roadshow across the United States as well as London ahead of the stock’s pricing, which is expected on Thursday, May 9, according to a source familiar with the schedule.
Uber representatives did not respond to a request for comment from Business Insider. Morgan Stanley, the lead underwriter for the IPO, also did not respond.
In London on Monday, Reuters reported, CEO Dara Khosrowshahi and CFO Nelson Chai were grilled by more than 100 investors about the company’s continued growth at the five-star Claridge’s hotel. One attendee told the wire service that the meeting was brief, and not many investor questions were answered.
The roadshow schedule is being closely held — with exact locations not shared until the day of, sources told Business Insider. This may be in order to avoid the press as well as protests like those that met Lyft executives during their roadshow in March. A handful of driver groups are planning a nationwide strike on May 8 to demand better wages and benefits ahead of the IPO.
Here’s the full roadshow schedule.
- Friday, 4/26 – New York
- Monday, 4/29 – London
- Tuesday, 4/30 – New York
- Wednesday, 5/1 – Boston
- Thursday, 5/2 – Mid-Atlantic / San Francisco
- Friday, 5/3 – San Francisco
- Monday, 5/6 – New York
- Tuesday, 5/7 – New York / Midwest
- Wednesday, 5/8 – Midwest
- Thursday, 5/9 – Expected Pricing
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More Uber news:
- Uber is paying drivers up to $40,000 each to celebrate its IPO
- PayPal is investing $500 million into Uber as part of the ride-hailing firm’s $90 billion IPO
- Uber is seeking a public valuation as high as $90 billion
SEE ALSO: Long hours, isolating loneliness, and confusing fees: Uber drivers in Washington, DC, are struggling to make ends meet
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