By Echo Wang
NEW YORK (Reuters) – Lineage, the world’s largest operator of cold-storage warehouses, raised $4.45 billion in its U.S. initial public offering, setting it up for the biggest stock market debut globally this year, two people familiar with the matter said on Wednesday.
The Novi, Michigan-headquarted company priced just under 57 million shares in New York at $78 apiece, the upper end of its indicated range of $70 to $82, the sources said. Lineage had originally planned to sell 47 million shares and sold more because of the strong demand, the sources added.
The $4.45 billion IPO values Lineage at more than $18 billion and is the biggest since chip designer Arm’s $4.87 billion offering last September.
The sources requested anonymity ahead of an official announcement. Lineage did not immediately respond to a request for comment. Its shares will begin trading on Nasdaq on Thursday.
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