Ride-hailing giant Lyft seeks valuation of nearly US$20 billion in year’s biggest IPO

Lyft is seeking to raise as much as US$2.1 billion in its initial public offering, valuing the firm at almost $20 billion.The No 2 US ride-hailing giant is offering 30.8 million shares at US$62 to US$68 each, it said in a regulatory filing on Monday. At the top of that range and including a potential overallotment of shares to investors, the market valuation would reach US$19.6 billion, based on the total numbers of shares outstanding after the IPO as detailed in the filing.At the targeted…

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