Lyft's IPO has fewer Wall Street seats than it seems AntonyMCurrie
Lyft appointed JPMorgan to be the stabilization agent for its initial public offering, Bloomberg reported on March 4. This means that the bank, the lead underwriter on the deal, will be responsible for setting the price of the IPO as well as overseeing the distribution of any extra shares under the so-called greenshoe option. A total of 29 banks are working on Lyft’s stock offering.
The ride-hailing firm’s IPO prospectus was published on March 1. Insiders hope the listing will value the company at between $20 billion and $25 billion, sources told Reuters. The last funding round valued the firm at $15 billion.
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