Uber rings NYSE bell, watches stock slide below offering price

New York: It was the largest public offering in five years, since Alibaba, and for all of Uber’s pre-bell preparations, company executives were still nervous. “Waiting for the first trade,” Dara Khosrowshahi, Uber Technologies Inc.’s chief executive officer, tweeted out at 11.18am with an emoji of a butterfly and the word “stomach.” Uber may be […]

Uber’s fall could postpone payday for founder Kalanick

San Francisco: A twist in the way shares were apportioned in Uber Technologies Inc.’s initial offering may delay a $1.2 billion (Dh4.4 billion) payday for founder Travis Kalanick and other early investors, unless the stock snaps out of its funk. Banks that managed the listing hold an option to buy 27 million Uber shares from […]