Lineage rose by as much as 5% during its market debut Thursday on the Nasdaq after going public under the ticker symbol “LINE.”
The company raised $4.4 billion at an implied valuation over $18 billion, making it the largest public offering since chip designer Arm's $4.8 billion listing last September. The company is the world’s largest global temperature-controlled warehouse REIT with 480 locations spanning North America, Europe and Asia.Lineage, the largest temperature-controlled warehouse real estate investment trust in the world, rose by as much as 5% in its Nasdaq Stock Market debut on Thursday, after going publicLineage priced 57 million shares at $78 apiece on Wednesday, near the top of its initial $70 to $82 target range. The company raised $4.
"We started with one warehouse and we've done 116 acquisitions to turn Lineage into what it is today," co-founder and co-executive chairman Adam Forste said on CNBC's "In the last year alone, Lineage has acquired Grupo Fuentes, Burris Logistics, Kennedy Transportation and Harnes.
Morgan Stanley, Goldman Sachs, Bank of America, J.P. Morgan and Wells Fargo were the lead underwriters for Lineage's offering.for our weekly, original newsletter that goes beyond the annual Disruptor 50 list, offering a closer look at list-making companies and their innovative founders.Why OpenAI is the first company to be No. 1 on the CNBC Disruptor 50 list two years in a row
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