uber set to price ipo at midpoint of target range or below

Uber Set to Price IPO at Midpoint of Target Range or Below

Business

Uber Technologies Inc. is on track to price its initial public offering at the midpoint of its target or below, according to people familiar with the matter, following a big stock-market drop and the disappointing debut of rival Lyft Inc.

Uber is currently pitching investors across the country on its shares, which are set to price Thursday ahead of a Friday trading debut. The ride-hailing giant has set a range of $44 to $50 share, or about $80 billion to $90 billion, already down from its earlier indication.

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