Having priced 180 million shares at $45 each — toward the lower end of its proposed range — the ride-hailing giant begins trading today on the New York Stock Exchange. Although Uber is now valued far lower than pre-IPO estimates of up to $120 billion, its U.S. public debut is still among the top 10 largest ever.
How will it perform? By selling as many shares as possible to institutional investors, who are known for long-term purchases, Uber’s hoping to avoid the volatility rival Lyft experienced after its IPO earlier this year.
Don’t miss OZY’s Special Briefing on this year’s tech IPOs.