Uber IPO Prices Near Low End Of Range, Raises $8.1 Billion
Summary
Shares in the initial public offering of Uber Technologies ( UBER ) priced at $45, coming in near the low end of its expected range of $44 to $50 per share and raising $8.1 billion, reports said Thursday. The orders for shares in the Uber IPO was reportedly higher than the amount being allotted, which could have been used to justify an increase in the offering price. Research and advisory firm IPO Boutique on Thursday said, based on underwriter guidance, that the offering was "multiple-times oversubscribed. Underwriters most recently valued Uber at $76 billion in a private fundraising round in August, though estimates by investment bankers on Ubers valuation at one point was reportedly above $100 billion. Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.