Uber-Backed Lime Debuts on Nasdaq, Valued at $1.73 Billion in IPO
UBER is trading near its 52-week low of $67.19 (8.6% above the low) on light trading volume (0.3× avg).
Summary
Uber-backed Lime, an electric scooter and bike operator, successfully debuted on Nasdaq, raising $167 million and achieving a $1.73 billion valuation. Shares jumped 8% on opening. As a major backer and partner, this IPO provides a positive valuation for one of Uber's portfolio investments and validates its strategy in the micromobility sector. This news comes amidst Uber's ongoing efforts to acquire Delivery Hero, highlighting its diverse investment and expansion strategies.
At the time of this announcement, UBER was trading at $73.00 on NYSE in the Technology sector, with a market capitalization of approximately $148.6B. The 52-week trading range was $67.19 to $101.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.