Deal Makers, Financial, Global, Global Banking, Global Investment, Investment Bankers, News, Technology

Banks Passed Up Share Sale of Uber

Banks Passed Up Share Sale of Uber

The potential fees and reputation which could be gained from working on Uber’s Initial Public Offering are what ever bank looks for. However, at least two investment banks passed on selling shares of Uber to their high net work clients due to lack of financial details on its business.

“The San Francisco-based company has more than $16 billion in cash and debt since it started more than six years ago, most recently at a valuation of $69 billion. “

~Bloomberg

JP Morgan Chase & Co and Deutsche Bank turned down the chance to offer their clients the option to invest in Uber. At the end, Bank of America and Morgan Stanley sold their shares earlier this year through the private wealth divisions.  The San Francisco-based company has more than $16 billion in cash and debt since it started more than six years ago, most recently at a valuation of $69 billion.  If it were to go public at the valuation, it would have a higher valuation than almost 90 percent of the companies in the S&P 500 Index .

Related Reports: Bloomberg

 

About JP Morgan Chase & Co

JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States. With a history dating back over 200 years, here’s where we stand today:

  • We are a leading global financial services firm with assets of $2.4 trillion.
  • We operate in more than 100 countries.
  • We have over 235,000 employees.
  • We serve millions of consumers, small businesses and many of the world’s most prominent corporate, institutional and government clients.
  • We are a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.
  • Our stock is a component of the Dow Jones Industrial Average.

Visit: JP Morgan Chase & Co


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency
Previous ArticleNext Article