Cold-Storage Giant Lineage Raises $4.4 Billion in IPO
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Lineage, the largest refrigerated-storage company in the world by capacity, raised $4.4 billion in its initial public offering in the biggest listing of the year. Shares jumped to $82 at the start of the Novi, Mich.-based company’s first day of trading Thursday, up $4 a share from its IPO price, before settling back to close at $80.78, a 3.6% gain for the day. Lineage sold nearly 57 million shares in the offering.