Uber adds several banks to lineup of IPO underwriters

SAN FRANCISCO: Uber Technologies Inc. has added several banks to the list of underwriters that will help manage its initial public offering (IPO), according to a person with knowledge of the matter. The ride-hailing company, which could be valued at as much as $120 billion in an IPO, is working with Bank of America Corp., Barclays Plc, Citigroup Inc. and Allen & Co. on preparations for the public listing, said the people, who asked not to be identified as the details aren’t public. The banks join Morgan Stanley, which will lead the IPO for Uber, as well as Goldman Sachs Group Inc., the people said. Uber’s public offering could be one of the five largest of all time in the US and is expected to be the biggest listing this year, netting millions of dollars in fees for the banks that work on the process.