Cold storage real estate investment trust Lineage said on Tuesday it was targeting a valuation of up to $19.16 billion in its initial public offering in the United States.
The REIT, backed by private equity firm Bay Grove Capital, is aiming to raise up to $3.85 billion by offering 47 million shares at a price range of $70 and $82 each.
After a global slowdown in 2022 and 2023 due to rising interest rates and geopolitical turmoil, the U.S. IPO market is on a rebound this year as rising hopes of a soft-landing for the economy encourage companies to move ahead with their listings.
Source: REUTER