Justin Sullivan/AFP/Getty Images North America

Uber has revealed that it’s seeking to generate between $9 billion and $10 billion at its upcoming initial public offering (IPO) through selling 207 million shares — 180 million of which are common stock. An updated SEC filing reveals that the ride-hailing giant is pursuing an IPO price range of between $44 and $50.

Using a median figure of $47 per share, Uber itself would receive around $8.4 billion from the sale of its common stock — with the remainder going to insiders — though this number could be up to $9 billion.

At the upper end of its price range, Uber would be valued at nearly $84 billion based on the outstanding shares available after the IPO — while this is substantially less than the $120 billion figure that was bandied about last year, it would still make Uber the biggest IPO of 2019 and among the biggest of all time.

The San Francisco-based company confidentially filed for its IPO back in December, a day after U.S. rival Lyft which went public last month. Lyft, which was the first ride-hail company to go public, was valued at $24 billion at its IPO, but its share price has slumped from $72 to $56 in the weeks since.

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