Ride-hailing company Lyft Inc. filed paperwork for its initial public offering, a move to beat the larger rival Uber Technologies Inc. in going to public. Lyft filed on Friday to raise as much as $100 million in the IPO, but the placeholder amount could be updated later.
Source: www.rttnews.com
Lyft, the ride-hailing Company has filed paperwork for an initial public offering (IPO) with the Security Exchange Commission (SEC). Lyft plans to raise $100 million in the IPO (the amount is a placeholder that can be updated later) and list its shares on the NASDAQ under the ticker symbol “LYFT”. The proceeds from the IPO will be used for general corporate purposes including working capital, operating expenses, and capital expenditure. JPMorgan Chase & Co., Credit Suisse Group AG, and Jefferies Financial Group will be the lead bankers for the IPO.
