Uber Technologies will price its initial public offering today, the most high-profile US listing since Facebook seven years ago.

The company's IPO comes against a backdrop of turbulent financial markets and the plunging share price of its US rival Lyft. 

Uber is eager to avoid a repeat of what has happened to Lyft’s stock, which priced strongly in the company's late-March IPO, opened trading strongly, but has been falling mostly since. 

Lyft's stock slumped nearly 11% yesterday to a record closing low of $52.91, well below the $72 per share IPO price, after the ride-hailing company reported a $1.1 billion quarterly loss. 

Uber, the world's largest ride-hailing company, is aiming for a valuation of between $80.5 billion and $91.5 billion in the IPO. 

That is as much as one-third below what the startup's insiders had hoped for last year, a sign of its more cautious approach in the wake of Lyft's struggles. 

A lot of the price talk between Uber and its advisers is focusing around the mid-point of Uber's $44-$50 per share price range, though no final decision has been made, a person familiar with the matter said. 

Uber is due to price the IPO after US markets close later tonight. 

In meetings with potential investors the past two weeks, Uber's chief executive Dara Khosrowshahi argued that Uber's future was not as a lift-hailing company, but as a wide technology platform shaping logistics and transportation. 

The company is hoping this pitch, coupled with any fear of missing out what is expected to be the biggest IPO of 2019, will support demand. 

Uber is aiming to sell 180 million shares in the offering to raise up to $9 billion, with a further 27 million potentially sold by existing investors for as much as $1.35 billion. 

Uber lost $3.03 billion in 2018 from operations, and reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion on revenues of roughly $3 billion.