Lyft Inc. plans to peg its valuation at between $21 billion and $23 billion when the ride-hailing service kicks off the roadshow to market its initial public offering Monday, according to people familiar with the matter.

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The range, equating to between $62 and $68 a share, is preliminary and could change by the time the shares start trading around the end of next week, the people said. The overall valuation includes the roughly $2 billion Lyft is expected to raise in the offering. The company and its underwriters will set a final IPO price based on feedback from investors in the roadshow.

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