Journey-hailing agency Lyft Inc recordsdata for IPO

An illuminated signal seems in a Lyft ride-hailing automotive in Los Angeles, California, U.S. September 21, 2017. Image taken September 21, 2017. REUTERS/Chris Helgren

(Reuters) – Journey-hailing firm Lyft Inc on Thursday filed with the U.S. Securities and Change Fee for an preliminary public providing, ending months of hypothesis concerning the timing of its much-awaited market debut.

The corporate, which was final valued at about $15 billion, didn’t specify the variety of shares it was promoting or the value vary for the providing in a confidential submitting with the SEC.

The IPO is slated for the primary half of 2019, sources have instructed Reuters. Greater rival Uber Applied sciences Inc UBER.UL can be anticipated to pursue an IPO subsequent 12 months that might worth it at about $120 billion.

Lyft’s IPO is predicted to begin after the SEC completes its evaluate course of, it mentioned here in a press launch on Thursday.

Reuters reported in October that the corporate had chosen JPMorgan Chase & Co (JPM.N), Credit score Suisse (CSGN.S) and Jefferies (JEF.N) as underwriters for its IPO.

Lyft was arrange in 2012 by know-how entrepreneurs John Zimmer and Logan Inexperienced, three years after Travis Kalanick co-founded Uber.

Reporting By Aparajita Saxena in Bengaluru; Modifying by Saumyadeb Chakrabarty

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