Liz Young of The Wall Street Journal reports that Lineage, the largest refrigerated storage company in the world by capacity, is offering 47 million shares of its common stock, and the initial public offering price is expected to be between $70.00 and $82.00. Young writes:

Lineage, the largest refrigerated-storage company in the world by capacity, plans to raise up to $3.85 billion in a blockbuster initial public offering that would be one of the biggest listings of the year.

The Novi, Mich.-based company said Tuesday it plans to offer 47 million shares for $70 to $82 each, which would raise between $3.29 billion and $3.85 billion.

Lineage, which didn’t set a date for the offering, said it plans the public listing on the Nasdaq exchange under the stock symbol “LINE.”

Lineage claims more than 480 warehouses counting about 84.1 million square feet in North America, Europe and the Asia-Pacific region, and far outpaces its main U.S. rival, Americold Realty Trust, in cold-storage capacity. […]

“There’s more inventory in more places. That’s one of the tailwinds for cold chain,” Lineage Chief Executive Greg Lehmkuhl said after the 2021 fundraising.

Read more here.