Advertisement
Canada markets closed

  • S&P/TSX

    21,875.79
    -66.41 (-0.30%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • DOW

    39,118.86
    -45.24 (-0.12%)
     

  • CAD/USD

    0.7317
    +0.0005 (+0.07%)
     

  • CRUDE OIL

    82.00
    +0.46 (+0.56%)
     

  • Bitcoin CAD

    86,623.12
    +3,671.34 (+4.43%)
     

  • CMC Crypto 200

    1,313.02
    +29.19 (+2.27%)
     

  • GOLD FUTURES

    2,329.40
    -10.20 (-0.44%)
     

  • RUSSELL 2000

    2,047.69
    +9.35 (+0.46%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • NASDAQ

    17,732.60
    -126.10 (-0.71%)
     

  • VOLATILITY

    12.44
    +0.20 (+1.63%)
     

  • FTSE

    8,164.12
    -15.56 (-0.19%)
     

  • NIKKEI 225

    39,556.57
    -26.51 (-0.07%)
     

  • CAD/EUR

    0.6796
    -0.0024 (-0.35%)
     

Spain's ride-hailing Cabify plans IPO within 12-15 months -El Confidencial

Reuters
·1 min read
FILE PHOTO: A Cabify taxi car is seen through the window of a car in Malaga

MADRID (Reuters) - Spanish ride-hailing app Cabify plans to list its shares on the stock market within 12 to 15 months, local news website El Confidencial reported on Tuesday citing unidentified sources closed to the company's management.

The company's valuation would be close to 2 billion euros ($2.2 billion), El Confidencial added, citing other unidentified financial sources.

The company, which has a large presence in Spain and Latin America, is one of Spain's few unicorns, or start-up companies with a valuation above 1 billion euros.

Cabify is working with Morgan Stanley on the listing, El Confidencial said.

ADVERTISEMENT

Having previously said it would eventually go public, Cabify has been bolstered by good results in 2022 after being hit by pandemic restrictions in 2020 and 2021, the news website said.

A spokesperson for Cabify declined to comment and a Morgan Stanley official was not immediately able to comment.

($1 = 0.9322 euros)

(Reporting by Inti Landauro; Editing by Kirsten Donovan)