Neutron Holdings, the parent company of scooter and e-bike operator Lime, has launched its IPO roadshow with a price range of $24 to $26 per share, seeking a valuation of up to $1.66 billion, according to Reuters. The company plans to sell approximately 6.96 million shares in total, aiming to raise up to $181.9 million.
Lime reported $886.7 million in 2025 revenue, representing 29% growth from the prior year, though the company posted a net loss of $59.3 million. The electric bike and scooter network operates in roughly 230 cities across 29 countries as of December 31, 2025.
Uber, which led a funding round for Lime in 2020, has indicated it will serve as an anchor investor, committing to purchase shares worth up to $20 million in the offering. Goldman Sachs, J.P. Morgan, and Jefferies are among the underwriters managing the deal. Lime intends to list on Nasdaq under the ticker symbol “LIME.”
The valuation reflects improving investor appetite for new listings after volatility linked to geopolitical tensions. According to IPOX Research Associate Lukas Muehlbauer, “The valuation does not look excessive, because Lime is already large, global, and cash-generative, with decent financials as revenue has grown quickly over the past three years.” However, Muehlbauer cautioned that “the stock may still trade at a discount, because the business is seasonal, regulated, asset-heavy, and exposed to city-level permit risk.”
The micromobility sector has faced challenges in reaching public markets. Rival Bird, which once reached a $2.5 billion valuation, went public via SPAC in 2021 at an implied valuation of $2.3 billion but later filed for bankruptcy and was sold for just $145 million, according to reporting by Gad’s Newsletter. Lime’s survival and path to profitability will be closely watched by investors evaluating the long-term viability of the shared mobility space.
Sources
- Reuters — Lime’s June 2026 IPO roadshow details, price range, valuation, share count, and Uber’s anchor investment commitment
- Gad’s Newsletter — Bird’s valuation history and bankruptcy outcome
- TechCrunch — Bird’s 2021 SPAC valuation
