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.


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