Ride-hailing aggregation Lyft Inc has called JPMorgan Chase & Co, Credit Suisse and Jefferies as underwriters for its antecedent accessible offering, slated for the aboriginal bisected of 2019, according to a being accustomed with the matter.
The antecedent did not appetite to be articular because Lyft’s affairs were still private.
Reuters had beforehand appear that Lyft was in talks with JPMorgan to advance its IPO, afterwards rivals Goldman Sachs and Morgan Stanley absitively not to accompany such a role out of adherence to addition IPO hopeful and Lyft’s beyond competitor, Uber Technologies Inc.
Earlier on Tuesday, the Wall Street Journal appear that Uber could be admired at $120 billion in its IPO, accepted in 2019.
JPMorgan beneath to comment. Credit Suisse did not anon acknowledge to Reuters’ appeal for comment, while Jefferies was not accessible for a comment.
Lyft additionally beneath to comment.
The two IPOs are broadly apparent as a litmus analysis for broker altruism for abridgement of advantage back it comes to iconic technology unicorns.
Uber and Lyft accept taken hits to their basal curve in adjustment to allure drivers and access new markets, although they accept fabricated strides in contempo years in absorption their losses.
Like Uber, Lyft offers an app that lets cartage appeal rides on their smartphones. It was founded in 2012 by technology entrepreneurs John Zimmer and Logan Green, three years afterwards Uber.
(Reporting By Aparajita Saxena in Bengaluru and Liana Baker in New York; Editing by Shailesh Kuber)
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