Lime (LIME.O) shares surged 8% during their Nasdaq debut on Wednesday. The company reached a market valuation of approximately $1.73 billion. The IPO priced at $25 per share, representing the midpoint of the targeted range. The offering raised about $174 million in capital.
Investor demand signals confidence in the micro-mobility sector despite Lime reporting continued net losses. Uber serves as a cornerstone investor and provides a significant revenue stream through its integrated app. Uber holds a stake of approximately 22% in Lime following the IPO. Uber indicated interest in purchasing up to $20 million worth of additional shares in the offering.