Uber could finally start going public on Thursday--and the company hopes to achieve one of the biggest tech IPOs in history.
The ridesharing company will seek to sell roughly $10 billion in stock, according to a Reuters report, which also confirmed the expected timing of the IPO registration. If successful, Uber would attain a valuation of between $90 million and $100 billion and the largest tech IPO since Chinese e-commerce business Alibaba in 2014.
By registering its public offering on Thursday, Uber aims "to price its IPO and begin trading on the New York Stock Exchange in early May," Reuters reported. The registration will provide investors with their most complete look yet at Uber's financial and operational numbers and strong points of comparison to rival Lyft's IPO registration in March.
Uber's projected valuation would be higher than its most recent private valuation of $76 billion, but less than its rumored $120 billion target--likely a recalculation due to Lyft's slow entrance to the public market. Lyft's stock debuted last month at $72 per share before quickly dropping below that mark thanks to concerns about the company's future profitability. On Tuesday, Lyft's shares closed at $67.44.
Uber CEO Dara Khosrowshahi will seek to ease similar concerns during his company's IPO roadshow, which is reportedly scheduled for late April. The company hasn't yet disclosed the number of shares it will offer or its intended price range.