Tuesday, April 23, 2019
Home Business Uber prepares for IPO

Uber prepares for IPO


US forwarder Uber has set the course for one of the largest IPOs in years. The Company intends to list its shares on the New York Stock Exchange under the ticker abbreviation "UBER," as evidenced by the prospectus published on Thursday after the US close.

The motion contains the results of past fiscal years: Uber increased its revenue by 42 percent year-on-year to $ 11.3 billion in 2018 and made a net profit of nearly $ 1 billion. However, earnings before interest, taxes, depreciation and amortization fell by $ 1.85 billion.

Details such as the exact date of the IPO and how much money Uber wants to collect from investors remained unclear at first. Meanwhile, banks that wanted to be entrusted with the preparation of the IPO, according to the US media already an overall assessment of up to $ 120 billion in prospect. Recently, however, it was said that it should probably be more likely 100 billion dollars.

Even so, Uber could still lift one of the largest initial public offerings in financial history and the highest priced debut since 2014, when the Chinese online giant Alibaba went to the New York Stock Exchange.

However, the company warned, according to Reuters, that it "might not achieve profitability": Uber may never make a profit because of competitive pressures. The Group also expects a "significant increase" in operating costs in the foreseeable future.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Must Read

Kamala Harris joins impeachment while Democrats remain split US news

Hello and welcome to our live blog coverage of the White House 2020 race. Senator Kamala Harris, a presidential candidate, raised a few ears...

An 18-year-old football coach accused of murder found dead in the apartment over Easter

These are the first images of a football coach who was found dead in a Stoke apartment this weekend - when an 18-year-old man...

Google Maps will now show you if an EV charging station is used

Google Maps not only shows you the locations of charging stations for your electric car, but also shows you if they are...

Mighty picture of daughter "dead" in the night and her father wants you to see

An upset father has posted pictures of his daughter, who fought for her life after taking prescription drugs in one night. Martin Klar said...