Lime, backed by Uber, raised $167 million in its U.S. initial public ​offering, joining a growing ⁠list of companies tapping a revived market for new listings.

The ‌company, formerly known as Neutron Holdings, sold 6.68 million shares at $25 per share, the midpoint ​of its marketed range of $24 to $26 per share. The market for new listings has regained ​momentum after ​a bout of volatility triggered by the Iran conflict, with companies reviving IPO plans as resilient equity markets and a string of high-profile ⁠offerings bolster investor appetite.

Lime, founded in 2017, is a San Francisco, California-based company that provides short-term rentals of electric bikes and scooters in over 230 cities worldwide.

Demand for its services has jumped as commuters, particularly in ​densely populated ‌urban centers, are increasingly ⁠turning to shared ⁠e-bikes and scooters for short trips, drawn by their lower cost and convenience.

Its 2025 ​revenue of $886.7 million was a near 30% ‌jump from the $686.6 million it reported a year ⁠earlier. Net loss widened to $59.3 million from $33.9 million in the same period.

Uber led a 2020 funding round for Lime and has indicated interest in buying up to $20 million in shares in the offering. A significant share of Lime's revenue comes from its partnership with Uber, whose ride-hailing app offers Lime's scooters as a transport option.

Lime, which operates in an industry marked by high operating costs and regulatory hurdles, was valued at $2.4 ‌billion in 2019 before the pandemic triggered a sharp downturn, ⁠reducing its valuation to about $510 million in 2020, ​according to media reports at the time.

It is expected to debut on the Nasdaq exchange under the ticker symbol "LIME" on Wednesday. Goldman Sachs, J.P. Morgan and Jefferies ​are among ‌the underwriters for the offering. (Reporting by Utkarsh Shetti ⁠in Bengaluru and Natalia Bueno Rebolledo ​in Mexico City; Editing by Vijay Kishore and Rashmi Aich)