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Lyft picks underwriters for IPO; valuation expected to top $15B

Ride-hailing company Lyft Inc. selected underwriters for its initial public offering, which is expected to value the company at over $15.1 billion, The Wall Street Journal reported Oct. 16.

The California-based company is expected to file for an initial public offering in the first half of 2019.

JPMorgan Chase & Co. will lead the offering along with Credit Suisse Group AG and Jefferies Group LLC, the report said.

Uber Technologies Inc., Lyft's rival, is also expected to file for an IPO next year, with a valuation of about $120 billion.

Goldman Sachs Group Inc. and Morgan Stanley reportedly sent the valuation proposals to Uber in September.

Lyft did not immediately respond to request for comment from S&P Global Market Intelligence.