Ahead of its expected IPO, Lyft Inc. jacked up its estimated price range to between $70 and $72 per share.
The ridehailing giant is expected to go public this Friday. In a new SEC filing posted on Wednesday afternoon, it raised its share price range from a previous estimate of $62 to $68 per share.
Under the new price estimate, Lyft’s valuation comes in at about $20 billion. In its recent S-1 filing, Lyft reported 2018 bookings of $8.1 billion, revenue of $2.2 billion and a net loss of $911.3 million.
As the first ridehailing company to go public and the first of several unicorn IPOs anticipated this year, Lyft’s public offering will be closely watched by investors. Lyft rival Uber Technologies is also expected to debut in the public markets this year.
Lyft’s IPO is due to price on Thursday, with the stock due to open for trading on the Nasdaq stock market on Friday.
