Lyft (LYFT) IPO Opens Up 21%

Today's IPO for Lyft (NASDAQ: LYFT) opened for trading at $87.24, after pricing 32,500,000 shares at $72 per share, the high end of the expected range. Underwriters have the option to purchase up to an additional 4,875,000 shares.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Jefferies LLC, UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and KeyBanc Capital Markets Inc. are acting as book-running managers.

The company had 30.7 million riders in 2018 and 1.9 million drivers. Bookings in 2018 were $8.1 billion, while revenue was $2.2 billion.

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