Lyft plans to launch the roadshow for its initial public offering (IPO) during the week of March 18, making it the first U.S. ride-hailing company to debut in the stock market, people familiar with the matter told Reuters on Wednesday.
Lyft's larger rival Uber Technologies still needs several more weeks for its IPO preparations, the sources said, putting it behind Lyft. The two IPOs being far apart could allow Lyft to pitch investors without fretting about being overshadowed by Uber.
Lyft now expects to be valued at between $20 billion and $25 billion in its IPO, the sources said, adding that the roadshow is expected to last for about two weeks. The sources cautioned that the plans were still subject to change and market conditions.
Lyft and Uber declined to comment.
Dow Jones separately reported that Lyft could make its filing public as early as next week and is planning on listing its shares on the Nasdaq.