SAN FRANCISCO — Lyft, Inc., the nation’s second-largest ridesharing service, announced it will go public Friday at a price of $72.00 per share. This will be the biggest and most-anticipated tech IPO so far this year.
Lyft is offering 32,500,000 shares of its Class A common stock, plus up to an additional 4,875,000 shares that the underwriters have the option to purchase. The shares are expected to begin trading on the Nasdaq Global Select Market on March 29, 2019 under the ticker symbol “LYFT” and the offering is expected to close on April 2, 2019, subject to customary closing conditions.
J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Jefferies LLC, UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and KeyBanc Capital Markets Inc. are acting as book-running managers.
Lyft offers ridesharing in all 50 states and Toronto with 2018 revenues of $2.15 billion and losses of $911.3 million. Revenues more than doubled from 2017. Total bookings were over $8 billion for 2018.