Lime raised $167 million by selling stakes in its business

Lime, one of the leading companies in the global electric scooter and bike rental market, has successfully completed the long-awaited process of launching its shares on the public market, Zamin.uz reported.

After nine years of successful operations, the company listed its shares on the Nasdaq exchange and managed to raise $167 million from investors. This step is expected to be a significant milestone not only for the company’s development but also for the entire micromobility market.

This was reported by influential publications. According to the data, Lime, supported by Uber, sold 6.68 million shares priced at $25 each.

This price represents the midpoint of the previously announced range, indicating stable investor confidence in the company’s future. The shares are now trading publicly under a special ticker.

Lime had been planning to go public for several years. After attracting significant investment in 2021, the company’s leadership announced its intentions.

However, due to market conditions and economic changes, the process was postponed several times. Based on current results, the company’s total valuation is estimated at approximately $1.66 billion.

The raised funds are crucial for Lime, as the company has been carrying a significant financial burden. Earlier reports had raised concerns about its ability to sustain operations.

Currently, Lime has debt close to $1 billion, a significant portion of which must be repaid by the end of the current year. The proceeds from the share offering are intended to repay these debts and ensure financial stability.

The micromobility sector has faced intense competition and financial challenges in recent years. For example, one of Lime’s main competitors went bankrupt after going public.

Other companies have been forced either to merge or to completely exit the market. In such challenging conditions, Lime’s ability to maintain its position and continue growing is highly regarded by industry experts.

The company’s financial indicators have shown a positive trend in recent years. Revenue has been growing year over year, while net losses have significantly decreased.

One of the key factors behind Lime’s success is its global expansion. Today, the company offers its services in more than 230 cities across 29 countries worldwide.