One could be forgiven if Friday, March 22, 2019, feels a bit like March 22, 1999.
The initial public offering frenzy that is making 2019 look like 1999 again was in high gear on Friday, with reports that Uber Technologies and Pinterest have both chosen the New York Stock Exchange for their initial public offerings, and that Pinterest is looking to kick its IPO into high gear.
Bloomberg reported that Uber, the ride-hailing company, is expected to publicly file for its offering in April, kicking off a listing that could value the company at as much as $120 billion and is likely to be the biggest of the year, according to various reports.
At that valuation, Uber would only have to float about 16% of its shares to make the top five, according to data compiled by Bloomberg.
Meantime, virtual visual online storyboard company Pinterest has sped up the timing of its own IPO as it looks to take advantage of what is clearly a strong market for tech-focused stock offerings, The Wall Street Journal reported on Friday, citing people familiar with the matter.
The company, which filed its IPO paper confidentially with the Securities and Exchange Commission earlier this year, could make its filing public as early as Friday. It would list on the New York Stock Exchange as soon as in mid-April, the Journal reported.
In other IPO action, Lyft is set to begin trading on the Nasdaq as soon as next week. The ride-sharing company set a price range that will value it at about $20 billion. Levi Strauss & Co. (LEVI) , meanwhile, finished off its first trading day on the New York Stock Exchange on Thursday at $22.41, sharply above its $17 initial public offering price.
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