Uber pulled back on its ambitious valuation target yesterday, while still pricing its share offering in a range that would make it one of the largest tech market debuts in recent years.
The ride-hailing firm said in a securities filing it would sell 207 million shares in a range of $44 to $50 dollars, raising up to $10 billion.
That would give Uber a market value of between $74 billion and $84 billion. Some media reports said the figure could be up to $90 billion accounting for restricted stock options.
But the pricing target—still subject to change—fell below earlier ambitions of a valuation of more than $100 billion for the firm operating in some 700 cities around the world.