Cold-Storage Giant Lineage Raises $4.4 Billion in IPO

Cold-Storage Giant Lineage Raises $4.4 Billion in IPO

Lineage Logistics, the world's largest refrigerated storage company by capacity, successfully completed its initial public offering, raising $4.4 billion. This marks the largest public listing of the year.

The Michigan-based company sold nearly 57 million shares at $78 each, debuting on the Nasdaq exchange under the ticker "LINE." The IPO comes after a period of strong demand for refrigerated warehousing, fueled by the pandemic.

Image: Lineage ($LINE) stock price at the close of business July 25. Source: Yahoo Finance.

Lineage has aggressively expanded its network through acquisitions, now operating over 480 distribution centers across North America, Europe, and Asia-Pacific.

The company's valuation has risen significantly since its founding in 2008, with multiple funding rounds and acquisitions, including high-profile deals like the purchases of Preferred Freezer Services and Emergent Cold.