Financial Digest

Lyft IPO said to be oversubscribed ahead of listing next week

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Lyft is expected to price its shares on March 28 and begin trading on the Nasdaq the next day.

If excessive demand continues, the company could decide to sell more shares or price them above the original range of US$62 to US$68 a share.

The enthusiasm indicates that many investors are willing to overlook Lyft’s losses, which are substantial. Noah Wintroub, JPMorgan’s vice chairman, and Michael Millman, co-head of equity capital markets for the Americas, also attended the meeting.

 

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