Ride-hailing company Uber is to launch its flotation as early as next month as they rush to beat rivals Lyft to a stock market listing.
According to Wall Street bankers speaking to The Times the listing could reach a value $120 billion. The listing should arrive on the markets hot on the heels of its American rival Lyft public offering which is due to launch at the end of the month according to Reuters.
The two American rivals will be pitching for shareholder cash and experts say that the first to float usually gains a boost by benefitting from “pent-up demand”.
The expectations to achieve a $120 billion valuation comes despite the global minicab firm never having made a profit. According to The Times the firm have so far made a loss of $3.3 billion.