In brief: Uber to seek $10b in IPO filing this week

• Uber will seek to sell around US$10 billion worth of stock in its IPO and make public the offering’s registration on Thursday, people familiar with the matter said.
• An IPO of this size would make Uber one of the biggest tech IPOs of all time and the largest since that of Chinese ecommerce giant Alibaba in 2014.
• The US company is seeking a valuation between US$90 billion and US$100 billion, influenced by the poor performance of smaller rival Lyft’s shares following its IPO late last month, the sources said. It was valued most recently at US$76 billion in the private fundraising market.
• Uber operates in more than 70 markets, including Hong Kong, India, Japan, and Taiwan in Asia Pacific. In addition to ride-hailing, its business includes bike and scooter rentals, freight hauling, food delivery, and an expensive self-driving car division.

Source: Reuters