Lyft sets itself up to be one of first large tech flotations of 2019

US company Lyft has filed plans with the regulator in Washington for a flotation as it races for funding against Uber, the rival ride-hailing company. In a statement on Thursday, Lyft announced it had submitted a draft registration statement with the US Securities and Exchange Commission (SEC), in a move which sets it up to be one of the first large tech flotations of 2019. The number of shares on offer and the price range for the proposed offering have not yet been determined, Lyft said. The company was valued at $15.1bn (£11.8bn) at its latest funding round in June, when investors led by Fidelity Investments poured $600m into the firm. Uber, by contrast, has been valued at $120bn in recent reports.