July 1 (Reuters) - Uber-backed Lime's shares jumped 8% in its Nasdaq debut on Wednesday after the company raised $167 million in its U.S. IPO, valuing the electric scooter and bike operator at about $1.73 billion.
Its shares opened at $27, compared with the initial offering price of $25. The company and existing stockholders sold about 7 million shares in the offering, generating $174 million in total.
Lime, founded in 2017, is based in San Francisco, California, and provides short-term rentals of
electric bikes and scooters in more than 230 cities worldwide.
Shared e-bikes and scooters have gained popularity among commuters in densely populated cities, where their affordability and convenience have made them popular options for short trips.
Lime's debut comes as new issuers enjoy renewed investor interest after volatility triggered by the war in Iran prompted some companies to take a wait-and-see approach.
The U.S. IPO market has gathered pace in 2026, with a series of high-profile offerings, including SpaceX's record-breaking $75 billion IPO, drawing investors back to new listings.
A LONG, BUMPY ROAD TO MARKET
Lime operates in an industry grappling with high operating costs and regulatory hurdles, and counts on its partnership with Uber, a major backer, for a significant chunk of its revenue. Uber's ride-hailing app offers Lime's scooters as a transport option.
The company, which has been eyeing a public listing since 2021, is one of the few major standalone micromobility companies to survive an industry shakeout that followed the pandemic.
Its valuation dropped from $2.4 billion in 2019 to about $510 million in 2020, according to media reports at the time, as the pandemic triggered a sharp downturn in the industry.
Former rivals such as Bird filed for bankruptcy protection, while operators including Tier and Dott merged to cut costs and gain scale.
Lime said in its prospectus that it has yet to turn a net profit. For 2025, it posted a net loss of $59.3 million on revenue of $886.7 million.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Tasim Zahid)
