Lyft shares surge 21.2 percent on Nasdaq debut after IPO

March 29, 2019

NEW YORK (Reuters) – Lyft Inc shares on Friday opened up 21.2 percent at $87.24 in its market debut on the Nasdaq after the company was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup.

On Thursday, Lyft said it priced 32.5 million shares, slightly more that it was offering originally, at $72, the top of its already elevated $70-$72 per share target range for the IPO.

(Reporting by Joshua Franklin and Chuck Mikolajczak in New York; Editing by Nick Zieminski)

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