Lineage Raises $4.4 Billion in Year’s Biggest IPO
- Cold-storage, logistics REIT upsizes IPO to 57 million shares
- Lineage reaches $19 billion market value in biggest IPO
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Temperature-controlled storage and logistics giant Lineage Inc. raised about $4.4 billion in an enlarged initial public offering, landing the year’s biggest first-time share sale.
Novi, Michigan-based Lineage sold nearly 57 million shares Wednesday for $78 each, near the top of the price range, according to a statement confirming an earlier report by Bloomberg News. The company had marketed 47 million shares for $70 to $82 apiece.