Lyft submits IPO documents with regulators

Business | Technology 12/6/2018, 1:26 PM
Lyft submits IPO documents with regulators

Lyft Inc. revealed on Thursday that it used the so-called confidential option for its upcoming stock market debut. The version of the filing with the Securities and Exchange Commission on a form S-1 statement enables avoiding to get details in the open before a review. Regulators will handle the documentation but, the ride-hailing company says, the number of the common shares for the initial public offering still isn't determined.

The online transportation system operator, Uber's biggest rival in the United States, added it is yet to produce the price range for the process. The timing of the IPO is also "subject to market and other conditions," according to the announcement. The latest estimates, from two months ago, placed Lyft's valuation above $15 billion. Insiders told the media that JPMorgan Chase would be the main underwriter, together with Credit Suisse and Jefferies.

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