Uber IPO price predictions revealed; PayPal signs investment agreement

Uber Technologies Inc is seeking to sell USD 10.35 billion in stock at a staggering valuation of up to USD 91.5 billion. The ride-hailing firm anticipates its much-awaited initial public offering (IPO) will be priced between USD 44 and USD 50 per share.

Unveiling the terms for its IPO on Friday, Uber also said PayPal had agreed to purchase USD 500 million of stock in a private placement at the price the IPO eventually settles at.

Uber Technologies says that on the closing of IPO, the authorized capital stock will consist of 5.01 billion shares, of which 5 billion would common shares and 10 million would be preferred shares.

In a regulatory filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion.

Uber currently operates in more than 70 countries.