Novi, Michigan, USA: Cold storage giant Lineage Logistics is aiming for a valuation of over $30bn in its initial public offering (IPO), expected in the first half of 2024, according to press reports.
An IPO refers to the process of offering shares of a private corporation to the public in a new stock issuance for the first time. An IPO allows a company to raise equity capital from public investors.
Bloomberg says that the company and its advisers are currently talking to potential investors. Goldman Sachs and Morgan Stanley will help prepare the offering, according to the Bloomberg report.
Lineage Logistics operates over 400 temperature-controlled warehouses, with a total capacity of over 2bn cubic feet, in North America, Europe and Asia.
“As the largest owner and operator of temperature-controlled warehousing in the world, our network offers cold storage services across continents,” states the Lineage website.
