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Logistics Giant Lineage Inc Sets Record With Year's Largest IPO, Raising $4.4B
In what is being hailed as the largest initial public offering (IPO) of the year, temperature-controlled storage and logistics giant, Lineage Inc., has successfully raised around $4.4 billion.
What Happened: Lineage Inc. sold nearly 57 million shares on Wednesday for $78 each, close to the top of the price range, Bloomberg reported on Thursday. The Michigan-based company had initially marketed 47 million shares for $70 to $82 each.
Following the upsize, Lineage’s market value now stands at about $19 billion, based on the number of outstanding shares in its filings with the U.S. Securities and Exchange Commission. The IPO is the largest in the U.S. since ARM Holdings ...