Uber is set for a wild ride on Wall Street with the biggest and most hotly debated initial public offering (IPO) since Facebook.
The world's leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its IPO at $45 (£35) per share late on Thursday.
The price is at the lower end of its targeted range of $44 to $50 (£34-38) per share, a decision that may have been driven by the escalating doubts about the ability of ride-hailing services to make money since Uber's main rival, Lyft, went public six weeks ago.
Even at the lower price, Uber now has a market value of $82.4 billion (£63bn) - significantly more than century-old car makers General Motors and Ford.
READ MORE: Uber vows to fight TfL decision to block London licence
Uber will face its next test when its shares begin trading on the New York Stock Exchange.
Also today, Business Editor Ian McConnell casts a critical eye on Wesminster and Europe in his Friday column: Juncker gets to heart of Brexit as May draws tortuous football analogy.
Mark Williamson reports on how an Aberdeen engineering giant on track to grow profits.
A Stirling manufacturer is back in black as its Russian deal pays off, writes Deputy Business Editor Scott Wright.
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