Morgan Stanley Set to Win Top Underwriter Role as Uber IPO Speculation Mounts

Morgan Stanley (MS) is the odds-on favorite to become the top underwriter in Uber’s initial public offering (IPO), according to a report from the Wall Street Journal.

Valuing the nine-year-old company at as much as $120 billion, an Uber IPO would reward investment bankers with tens of millions of dollars in fees and equally valuable bragging rights, the news report said.

Morgan Stanley and Goldman Sachs Group, Inc. (GS) recently gave presentations to Uber outlining an IPO that could launch in early 2019, the report added.

Shares of Morgan Stanley and Goldman were both down by more than 1.5% intraday.