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Report: Uber adds more IPO underwriters


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Report: Uber adds more IPO underwriters

Uber Technologies Inc. has added six more investment banks to its list of IPO underwriters ahead of its stock market debut, Reuters reported March 13, citing sources familiar with the matter.

Bank of America Corp., Barclays PLC, Citigroup Inc., Allen & Co. Inc., Deutsche Bank AG and JMP Securities LLC will join Morgan Stanley and Goldman Sachs Group Inc., which the California-based ride-hailing service hired in 2018 to lead the IPO.

The company plans to hire more banks in the coming weeks to complete its IPO slate, according to sources.

A representative from the Bank of America declined to comment, while the rest of the reported new underwriters did not immediately respond to requests for comment from S&P Global Market Intelligence.

Uber confidentially filed a draft registration statement with the U.S. SEC in early December 2018, with an IPO expected in the second half of 2019. On March 1, rival Lyft Inc. filed for an IPO with the securities regulator. Uber's underwriters have valued the company at as high as $120 billion, while Lyft could fetch nearly $25 billion, the report said.