Ride-hailing platform Lyft said on Monday it would raise as much as $2 billion in an initial public offering.

Lyft expects to price 30.8 million shares between $62 and $68 per share, it said in a filing.

At the higher end of the range, the company will have a market valuation of $19.64 billion.

See the company’s official statement below:

Lyft Announces Launch of Initial Public Offering

PR Newswire

SAN FRANCISCO, March 18, 2019

SAN FRANCISCO, March 18, 2019 /PRNewswire/ — Lyft, Inc. today announced that it has launched the roadshow for the initial public offering of its Class A common stock. Lyft is offering 30,770,000 shares of its Class A common stock, plus up to an additional 4,615,500 shares that the underwriters have the option to purchase. The initial public offering price is expected to be between $62.00 and $68.00 per share. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “LYFT.”

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Jefferies LLC, UBS Securities LLC, Stifel, Nicolaus & Company, Incorporated, RBC Capital Markets, LLC and KeyBanc Capital Markets Inc. will act as book-running managers for the offering.

The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, Eleven Madison Avenue, 3(rd) Floor, New York, NY 10010, by telephone at 800-221-1037 or by email at; Jefferies LLC, Attn: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at; UBS Securities LLC, Attn: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone at 888-827-7275 or by email at; Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate Department, 1 South Street, 15th Floor, Baltimore, MD 21202, by telephone at 855-300-7136 or by email at; RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, by telephone at 877-822-4089 or by email at; or KeyBanc Capital Markets Inc., Attn: Prospectus Delivery Department, 127 Public Square, 4th Floor, Cleveland, OH 44114 or by telephone at 800-859-1783.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

This story is developing. Please check back for updates.

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