Uber could go public at a stock price that would make it bigger than some of the best-known names in the S&P 500.
The ride-hailing company plans to list shares between $44 and $50 in its upcoming initial public offering, several news outlets reported Thursday, citing people familiar with the matter. That would value the company at as high as $90 billion when it lists on the New York Stock Exchange, according to a Bloomberg report.
The eye-popping figure would make it more valuable than S&P juggernauts like DowDuPont, General Electric and Caterpillar, according to data from Finviz.com. It would also top Morgan Stanley and BlackRock, with market capitalizations of $81 billion and $74 billion, respectively.
Market capitalization, or “market cap,” is the total dollar amount of a company’s outstanding shares, which can be calculated by multiplying the firm’s outstanding shares by the price of one share.