(Reuters) -Cold storage genuine estate financialinvestment trust Lineage stated on Tuesday it was targeting a assessment of up to $19.16 billion in its preliminary public offering in the United States.
The REIT, backed by personal equity company Bay Grove Capital, is intending to raise up to $3.85 billion by offering 47 million shares at a rate variety of $70 and $82 each.
After a worldwide downturn in 2022 and 2023 due to increasing interest rates and geopolitical chaos, the U.S. IPO market is on a rebound this year as increasing hopes of a soft-landing for the economy motivate business to relocation ahead with their listings.
Lineage’s story started in late-2008 with the acquisition of a cold storage storagefacility, Seafreeze, in Seattle.
Since then, it hasactually grown to be the world’s biggest temperature-controlled storagefacility operator with 116 acquisitions internationally.
The Novi, Michigan-based compan