An illuminated sign appears in a Lyft ride-hailing car in Los Angeles, California, U.S. September 21, 2017. REUTERS/Chris Helgren/File Photo
(Reuters) – Lyft Inc plans to launch the roadshow for its initial public offering (IPO) during the week of March 18, making it the first U.S. ride-hailing company to debut in the stock market, people familiar with the matter said on Wednesday.
Lyft’s larger rival Uber Technologies Inc still needs several more weeks for its IPO preparations, the sources said, putting it behind Lyft. The two IPOs being far apart could allow Lyft to pitch investors without fretting about being overshadowed by Uber.
Lyft now expects to be valued at between $20 billion and $25 billion in its IPO, the sources said, adding that the roadshow is expected to last for about two weeks. The sources cautioned that the plans were still subject to change and market conditions.
Lyft and Uber declined to comment.
Reporting by Joshua Franklin in San Francisco; Additional reporting by Heather Somerville in San Francisco and Carl O’Donnell in New York; Editing by Tom Brown