Uber eyes valuation topping $100 bln in IPO: sources

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Uber is eyeing a valuation above 100 billion US dollars for its much-anticipated share offering due in 2019, which would be the biggest-ever in the tech sector, sources familiar with the plan said Tuesday.

The sources told AFP the global ride-sharing giant is considering speeding up its plans for an initial public offering (IPO) to the first half of 2019, rather than the second half of the year.

Uber, which operates in over 60 countries, is already the largest of the venture-backed "unicorns" valued at more than one billion US dollars, which until recently was considered rare without tapping stock markets.

Its most recent investment, a 500-million-US-dollar injection from Japanese auto giant Toyota was made at a reported valuation of 72 billion US dollars.

Earlier Tuesday, the Wall Street Journal reported that bankers were proposing a valuation as high as 120 billion US dollars for Uber, which has been a disruptive force in many cities where regulators and taxi operators have challenged its business model.

Uber offered no comment on the IPO plans. Sources told AFP the timing of the IPO will depend on market conditions and that Uber was in talks with Goldman Sachs and Morgan Stanley to be lead underwriters. The two firms declined to comment.

Uber is due to make a market debut by the end of 2019 as part of an investment deal with Japan's SoftBank, which has a stake of some 15 percent.

Source(s): AFP