OSAKA, Japan--(BUSINESS WIRE)--Japanese investment management company Tokai Fuji Brokerage has noted that Uber Technologies Inc., an American transportation network company, has initiated its first steps by hiring numerous investment banks for its initial public offering.
The move comes after a long-anticipated debut with its rivals adopting a similar stance such as Lyft Inc., who are expected to list on the stock market by the end of March 2019.
Uber Technologies Inc. are looking to go public as early as the first half of 2019, a strategy of hiring multiple investment banks is to give the company more flexibility. Such banks include Barclays Plc, Citigroup Inc, Deutsche Bank AG and JMP Securities to its IPO underwriting team.
"Numerous investment banks have been holding off from working with Lyft for its debut IPO as it would be a conflict of interest to its more lucrative counterpart Uber," highlighted Michael Blackburn, who heads up Corporate Trading at Tokai Fuji Brokerage.
Uber Technologies Inc. has already filed for an initial public offering with the U.S. Securities and Exchange Commission back in December.
Several fundamental analysts from Tokai Fuji Brokerage expect that the company to be valued at around $100 to $120 billion based on the earnings figures it had disclosed.
Top rival Lyft could be priced around $22 - $25 billion for its initial public offering valuation.
About Tokai Fuji Brokerage - Headquartered in Osaka, Japan, Tokai Fuji Brokerage was established in 2004, and ever since then, we have assembled a robust and reputable reputation within the financial sector.
Tokai Fuji Brokerage currently boasts $7.63 billion US dollars of assets under management. Over the last 15 years, we have performed millions of financial transactions for our clientele.