Uber confirms that it will float next year
Ride-hailing start-up Uber has filed confidential papers for one of the most widely anticipated initial public offerings on the stock market.
Uber filed paperwork to the US Securities and Exchange Commission on Thursday for a flotation that has long been expected to debut in 2019.
Uber’s acceleration of the process comes after US ridehailing rival Lyft also announced on Thursday that it had filed for an IPO.
Uber’s filing is set to be one of the largest ever for a tech company. Uber’s current valuation sits at $76bn, and its plans for an IPO is expected to see its worth rise to $120bn, putting it on a par with bluechips such as IBM.