U.S. Markets open in 5 hrs 18 mins

Morgan Stanley Marketing 6.3 Million-Share Stake in Uber

Drew Singer
1 / 2

Morgan Stanley Marketing 6.3 Million-Share Stake in Uber

(Bloomberg) -- Morgan Stanley is lining up buyers overnight for $250 million worth of Uber Technologies Inc. shares, people familiar with the matter said.

The bank is offering 6.25 million shares at $39.85 to $39.95 each on behalf of an undisclosed holder, the people said, a maximum 0.4% discount to Monday’s closing price of $40.01.

The newly launched share sale follows a separate block trade in which 6.25 million shares crossed at $39.78 after the market closed on Monday, according to data compiled by Bloomberg. Uber shares have risen 35% so far this year.

To contact the reporter on this story: Drew Singer in New York at dsinger28@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Drew Singer

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2020 Bloomberg L.P.