May 10, 2019 / 3:47 PM / a month ago

Uber shares likely to fall in stock market debut

FILE PHOTO: Traders gather at post where Uber Technologies Inc. holds it's IPO on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Andrew Kelly

(Reuters) - Uber Technologies Inc shares are likely to open below their initial public offering price of $45 in their long-awaited market debut on Friday, early price indications showed.

A lower opening will undermine Uber’s strategy to price its oversubscribed IPO conservatively at $45 per share to avoid a repeat of rival Lyft Inc’s stock market struggles following a strong debut in March.

Reporting by Sweta Singh in Bengaluru; Editing by Saumyadeb Chakrabarty

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below