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Uber value per share after the first trading day decreased by 7.6% and amounted to 41.57 dollars

The company entered the IPO with a price of $ 45 per share, but the bidding started from $ 42.


Uber CEO Dara Khosrovshahi (second from right) Snapshot of Reuters

On the first day of trading, the price of Uber shares fell by 7.6% and by the end of it was $ 41.57 per share. This follows from the information of the New York Stock Exchange.

At the opening of trading, the value of shares amounted to $ 42, which is lower than the initial offering price (IPO) by $ 3. Uber CEO Dara Khosrovshahi said that “we knew that we had a difficult day ahead.” At the IPO, the company raised $ 8.1 billion, selling 180 million shares. Vedomosti clarified that the placement of Uber shares was one of the largest in history and the largest in the United States since 2014.

The company’s total capitalization rose to $ 76.5 billion, and in August 2018, in the last round of private investment, Uber was valued at $ 76 billion. At the same time, on October 16, 2018, Goldman Sachs and Morgan Stanley, who participated in the IPO organization, estimated the company at $ 120 billion.

Journalists of The Wall Street Journal reported that the Uber IPO took place against the background of the intensifying trade war between the United States and China. On May 10, Trump ordered the introduction of import duties on Chinese goods for the United States by another $ 300 billion and raised tariffs for these goods from 10% to 25%.

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