Uber Technologies is moving closer to an IPO date.
The ride-hailing giant is beefing up its bench of underwriters for a public offering that could arrive in early 2019, according to Reuters. Uber has reportedly tapped several investment banks that include Bank of America (MER-K) , Barclays (BCS) , Citigroup (C - Get Report) , Deutsche Bank (DB - Get Report) and others, and it's planning to add more banks in the coming weeks to build out its roster of underwriters. Uber hired Morgan Stanley (MS - Get Report) and Goldman Sachs (GS - Get Report) to lead the IPO in late 2018.
Uber's ride-hailing rival, Lyft Inc., is expected to go public as soon as this month. Meanwhile, Uber is seeking some flexibility in its IPO timing, Reuters reported, but could also go public in the first half of this year.
Reportedly, bankers for Uber could be seeking a valuation as high as $120 billion, while sources pegged Lyft's value at IPO closer to $25 billion.
How Much Money Will I Need to Retire?
Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.