Uber looks to raise up to $9B in initial public offering

NEW YORK --- Ride-hailing giant Uber is aiming to raise $9 billion in its mammoth initial public stock offering that, while smaller than initially expected, still dwarfs most stock market debuts. The San Francisco-based company expects to be valued at $80.5 billion to $91.5 billion, falling well below prior estimates that rose as high as $120 billion, in a sign that investors may be taking a more cautious approach to ride-hailing after the stock performance of Uber's rival, Lyft. Even so, Uber is on track for one of the largest IPOs in history. The company plans to sell 180 million shares for between $44 and $50 each. Lyft went public last month and its stock price fell 21% ...

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