Lime, the electric bike and scooter operator, plans to designate Uber as an anchor investor in its upcoming U.S. initial public offering, according to a report from The Information on Sunday. The ride-hailing giant is expected to invest a "meaningful" amount and be listed on the cover of an updated IPO prospectus that Lime intends to file on Monday.
IPO details and Uber's role
The San Francisco-based startup, already backed by Uber, filed to go public in May. Uber has also guaranteed a $115 million Lime loan due in September, the report noted. Lime plans to use the IPO proceeds to fund operations, repay all its debt, and invest in or acquire complementary technologies, assets, or intellectual property.
Road show and valuation
Separately, Lime is set to begin talks with IPO investors during a road show this week, aiming to raise about $200 million at a valuation of roughly $1.8 billion, the report said. The company reported a jump in annual revenue in its May IPO filing. Reuters could not immediately verify the report, and both Uber and Lime did not respond to requests for comment.