RBC Capital Markets, JMP Securities, Raymond James, and others managed to make it on the front page of both Lyft and Uber's coveted 2019 IPOs.
Uber is planning to raise $100 million in the IPO, at a valuation between $90 billion and $100 billion,
making it a top contender for the largest IPO for the year. Those numbers could change between now and the still unknown-date when Uber actually lists on the NYSE.JPMorgan and Credit Suisse will get paid almost equal amounts for helping take Lyft public, and it's part of a growing trend for IPO fees Up to the final months, the IPO competition between Lyft and Uber was fierce. People familiar with the process described strict rules barring some banks from working on both transactions. Yet Uber's S-1 reveals that 11 of the smaller underwriters actually managed to get their names on both IPOs.
The highest ranked double-dipper was RBC Capital Markets, which was the sixth bank on Lyft's cover sheet, and the seventh on Uber's cover sheet.The other double-listed banks are JMP Securities, Raymond James, Academy Securities, Cowen, Loop Capital Markets, Canaccord Genuity, CastleOak Securities, Mischler Financial Group, Siebert Cisneros Shank and the Williams Capital Group.The underwriters listed in Uber's S-1 include 11 of the same banks used in Lyft's IPO on March 29.
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