US-BASED ride hailing company, Lyft received a premium for its listing. The shares, sold at US$72 each, valuing the second-largest ride-hailing company in the United States at US$24bil.
The valuation is almost 11 times the revenue recorded by Lyft, which is still loss-making, and expected to be in the red until 2020. Before the listing, Lyft was valued at US$15bil based on a fund-raising last year.
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