The global ride-sharing company priced its IPO at US$45 (A64.42) a share – lower than the market had earlier anticipated.
But, despite this, Uber's debut on the NYSE completed one of the biggest technology industry listings in the US market.
The listing at that price values Uber at US$82.4 billion, although the markets had earlier estimated a value of up to US$120 billion.
As reported by iTWire last week, Uber says it has achieved strong growth in the Australian market in six years of operation, with nearly 4.3 million people aged 14+ now travelling in an average three months.
In last week’s report, research firm Roy Morgan Research said research it conducted in the year to December 2018, showed that Uber has established itself as Australia’s leading ride-share app, with the 4.3 million users — or 20% of the population — up from just over two million (10.2%) in 2016.
And, according to the research, Uber’s growth in the Australian market over the last two years was most notable in South Australia and NSW, rising by 12.2% points and 11.3% points respectively.
An Australian online trader of shares for the US market, HelloStake, said prior to the Uber IPO, “when it comes to IPOs, it doesn't get bigger than this”.
“For the last five years, millions of Australian's have made Uber part of their lives. Ultimately more Australian's have a connection to Uber than any locally listed stock on the ASX.”