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Uber sets IPO price range of $44 to $50 a share

The ride-hailing company expects to raise about $9 billion in its initial public offering.

UBER Cabs Booking Using Mobile App
Uber is going public.
Hemant Mishra/Mint via Getty Images

Uber on Friday set a price range of $44 to $50 a share for its initial public offering, according to an updated filing with the US Securities and Exchange Commission. 

The ride-hailing company plans to offer 180 million shares and seeks to raise about $9 billion in its IPO.

The San Francisco-based company will list on the New York Stock Exchange using the ticker symbol UBER. Its IPO could come as soon as early May.

On Friday, payment service PayPal also said it'll invest $500 million into Uber as it extends a partnership the companies have maintained since 2013.

In its IPO filing, Uber said it has operations in more than 700 cities in 63 countries on six continents. More than 91 million people use one of its services, which includes food delivery, at least once a month, the company said. Its drivers reportedly complete 14 million trips every day. 

If all goes as planned, 2019 will be a big year for tech IPOs. Airbnb, Pinterest and Slack are also expected to go public. Uber arch-rival Lyft issued its IPO in March with a strong stock market debut, but has faltered some since then. Lyft shares were trading around $56 on Friday, well below their $72 IPO price. 

Uber didn't immediately respond to a request for comment.