(Bloomberg) -- Bank of America's Merrill Lynch and Morgan Stanley are selling shares in Uber Technologies to their high-net worth clients, according to a person familiar with the matter.

Shares in the car-booking technology company are being priced at about $49 a share, said the person, who asked not to be identified because the plans are private. Merrill Lynch is restricting its sales to clients with a net worth of more than $100 million and is asking for a minimum purchase of $1 million, the person said. Morgan Stanley is requiring them to buy at least $250,000 in Uber shares, the person said.

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