Uber plans to go public in April: report

Uber Technologies Inc is planning an initial public offering (IPO) in April, Reuters reported citing sources familiar with the matter.

The ride-hailing company is said to issue its required public disclosure (S-1) and launch an investor roadshow next month.

The timing for Uber’s IPO means it will most likely hit public markets soon after its rivalry Lyft completes its own public offering by the end of March, the sources added.

Both competitors filed confidential paperwork for an IPO at the same time in December.

Uber, most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion.

Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), is an investor in Uber.