March 18 (UPI) -- Lyft expects to raise $2 billion for its initial public offering this year -- which would value the company at more than $19 billion, a regulatory filing said Monday.
The ride-hailing company said it plans to sell 30.8 million shares between $62 to $68, Lyft said in its filing with the U.S. Securities and Exchange Commission.
At that range, Lyft's would be the largest IPO in the United States this year and the highest since Snap went public two years ago.
Lyft won't sell all shares to the public. A special issue of stock will go to co-founders Logan Green and John Zimmer. Some regular shares will go to employees, including some of the most accomplished drivers.
Lyft revenues rose 528 percent between 2016 and 2018, but it lost $911 million last year. When the IPO comes, shares will list on the Nasdaq exchange under the ticker symbol LYFT.
Competitor Uber also expects to go public this year but has not yet given details. Experts say it could raise more than Lyft. Other major startups planning for an IPO this year are Airbnb, Slack, Pinterest and Postmates.
