Lyft logo reflected in windscreen

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Trip-hailing agency Lyft has moved nearer to itemizing its shares on the inventory market by submitting a draft registration with US authorities for an preliminary public providing (IPO).

The agency stated the variety of shares to be supplied and the worth vary had not but been decided.

Nonetheless, Reuters information company quoted sources as saying the IPO would happen within the first half of 2019.

Lyft’s primary rival, Uber, can also be anticipated to drift subsequent yr.

Lyft was launched in 2012 by expertise entrepreneurs John Zimmer and Logan Inexperienced, three years after Uber was based.

Lyft is considered price about $15bn (£11.75bn), whereas Uber is valued at about $120bn.

“The preliminary public providing is predicted to start after the SEC completes its evaluation course of, topic to market and different circumstances,” Lyft stated.