The New York Post: Lyft IPO reportedly oversubscribed, potentially pushing its opening price higher

Getting in on Lyft’s IPO has suddenly become harder than hailing a ride on a rainy night.

On the second day of the ride-sharing company’s IPO roadshow Tuesday, Lyft began telling investors that its planned March 29 trading debut is oversubscribed, The Post has learned.

That means that demand for the tech startup‘s initial public offering has already exceeded the 30 million shares it has been planning to sell at between $62 and $68 a share, which would give it a valuation of between $21 billion and $23 billion.

The San Francisco company’s valuation could go higher than planned as investors clamor to get their hands on a hot stock in an otherwise tepid IPO season, sources said.

>>> Original Source <<<