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During the first trade Uber shares sank below their IPO price

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During the first trade Uber shares sank below their IPO price
May 10
19:00 2019

The first trade on the stock exchange was not very successful for Uber. The shares of the American company then cost $ 42, which is below the price set at the IPO.

At the moment (by 7 pm Moscow time) the shares cost 43.12 dollars. This is about 4% below the IPO price. If based on precisely such a value of securities, then the capitalization of Uber would be 72 billion US dollars.

Assessing the IPO, it became known that the company had set the level of 45 per share. This price was in the lower part of the announced range 44 – 50.

Despite the fact that almost the minimum price was set, Uber was able to raise $ 8.1 billion due to the IPO. This is one of the largest placements in history and unambiguously the most significant after Alibaba entered the market in 2014.

We recall that Uber is a high-tech company that operates in 65 countries and 600 cities around the world. It provides passenger transport and food delivery services.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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