The Lime IPO has a price and an anchor investor: Uber, the ride-hailing giant that already owns a chunk of the scooter firm and is now backing its market debut.
Lime is going public, and an old backer is helping carry it across the line: Uber.
The scooter and bike-rental firm, formally Neutron Holdings, has set the terms for its float. It is seeking to raise up to $180.9mn by selling 6.7 million shares at $24 to $26 each. Existing holders, including chief executive Wayne Ting and co-founder Brad Bao, will sell a further 276,731 shares.
At the top of that range, Lime would be worth about $1.7bn. The Information reported that the company is targeting a valuation closer to $1.8bn, and a raise nearer $200mn, on a road show this week.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!The shares will trade on the Nasdaq under the ticker LIME. Goldman Sachs and JPMorgan are leading the offering, which Lime first filed for last month.
