Uber's early investors are poised to reap $1.3 billion in IPO sale

The selling shareholders will still control about $36 billion worth of the San Francisco-based firm's stock after the offering

Early investors and employees of Uber Technologies Inc. are planning to sell about $1.3 billion worth of stock in the ride-hailing firm’s initial public offering.

Benchmark is the biggest seller, offering 5.7 million of its shares, according to a regulatory filing Friday. That would fetch about $270 million at the middle of the listing’s current $44 to $50 price range. SoftBank Group Corp. is offering 5.5 million shares, while Uber co-founders Travis Kalanick and Garrett Camp expect to sell holdings worth $176 million and $147 million, respectively.

Saudi Arabia’s sovereign wealth fund and Alphabet Inc. haven’t offered any of their