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
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source: reuters.com