Uber and Lyft said to offer drivers a chance to participate in IPOs

When Uber and Lyft go public this year, their founders, top executives and investors are set to reap billions of dollars in new wealth.

But one group that helped build up the ride-hailing companies will miss out on most of the rewards: their drivers.

That’s because while Uber’s and Lyft’s full-time employees and investors own company stock that they can convert into cash after the initial public offerings, the millions of drivers who ferry passengers around for the services are independent contractors. That has made them ineligible for stock grants — and bystanders to the coming I.P.O. bonanza.

Now Uber and Lyft, facing