Uber is set to pitch shares at between $44 and $50 as it chases an initial public offering (IPO) that could value it at up to $90bn (£69.8bn), the ride-hailing firm revealed in an updated filing today.
The technology transport giant will offer 180m shares in its stock market debut as it chases the valuation, with another 27m shares sold by current investors.
Read more: Uber IPO: Six things you need to know
Uber tempered its valuation from a far higher $120bn, according to widespread US reports, after smaller rival Lyft's disappointing IPO saw its shares fall 22 per cent since its debut.
It said it will trade under the stock ticker UBER when it lists on the New York Stock Exchange.
Meanwhile it also confirmed reports of Paypal's plan to invest $500m (£387.2m) through a concurrent private placement at the IPO price.
"We and Paypal extended our global partnership through the execution of an addendum to our existing commercial agreement," Uber said in its filing to the US Securities & Exchange Commission (SEC).
"We and Paypal intend to explore future commercial payment collaborations, including the development of our digital wallet."
Its valuation puts Uber closer to the $76bn that it fetched in its last private funding round.
The price range would still make it the largest float since Alibaba Group in 2014.
The firm secured $1bn of investment in its autonomous vehicle division from a consortium of investors including Softbank Group last week, valuing the Advanced Technologies Group at $7.25bn.
Shifting some of the costs of developing driverless cars to outside investors was expected to ease concerns about Uber's spending on the programme, which has totalled more than $1.07bn since 2016.
In its most recent results Uber revealed it is still losing billions of dollars despite its flotation plans.
Read more: Uber files to go public as losses mount
The firm reported an adjusted loss before tax of $1.9bn for 2018, warning that its operating expenses will "increase significantly" in the near future.
An operating loss of $3bn came alongside revenue of $11.3bn.
“We will not shy away from making short-term financial sacrifices where we see clear long-term benefits,” said chief executive Dara Khosrowshahi as he unveiled the results earlier this month.