WASHINGTON (dpa-AFX) - Uber Technologies Inc. has selected the New York Stock Exchange for its much-anticipated initial public offering, instead of the tech-heavy Nasdaq, Bloomberg reported Thursday, citing a person familiar with the matter.
The ride-hailing giant is expected to publicly file for its IPO in April and may be valued as high as $120 billion. Uber's decision to opt for the New York Stock Exchange or NYSE comes as rival Lyft prepares to list on the Nasdaq.
In early March, Lyft filed to raise as much as $100 million in the IPO, but the placeholder amount could be updated later. The company intends to list its shares on the Nasdaq Global Select Market under the trading symbol 'LYFT'.
Lyft's IPO coming ahead of Uber will enable the company to lock up investor money before its rival and also help it to hire IPO bankers. However, both the planned IPOs are shaping up to be among the biggest in a spate of offerings aimed for 2019.
Other major technology companies, including Microsoft Corp. (MSFT), Google parent Alphabet Inc. (GOOG, GOOGL), Apple Inc. (AAPL) and Facebook Inc. (FB), also trade on the Nasdaq.
However, the NYSE has attracted the IPOs of other major technology companies such as Alibaba Group Holding Ltd (BABA), Twitter Inc. (TWTR) and Snap Inc. (SNAP).
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