California-based micromobility operator Lime has raised $167m in its initial public offering (IPO).

Through its parent company Neutron Holdings, Lime, the largest global shared micromobility business, saw its shares under the ticker Lime start trading on Nasdaq last week.

It offered nearly seven million shares of its common stock, most of which were offered by Lime and 276,731 by some existing stockholders, to the public.

In addition, Lime intends to grant the underwriters a 30-day option to purchase up to an additional just over one million shares of its common stock at the initial public offering price, less underwriting discounts and commissions.

“Going public is a meaningful step for us, not because it changes our purpose, but because it strengthens our ability to keep investing in it,” said a company statement. “That means supporting the riders and city partners we serve, continuing to refine the products they rely on and advancing the work that helps make shared transportation more accessible, affordable and sustainable in cities around the world.”

The initial public offering price was $25 per share.

Lime (www.li.me) has powered more than a billion rides across five continents. It was founded under the name LimeBike in 2017 and runs e-scooters, e-bikes and e-mopeds in nearly 30 countries.