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Trading leveraged product involves significant risk of loss. 21.57% of retail investor accounts generate profits when trading leveraged products with this provider
Initial Public Offering
General info on Lineage
About the company
Name
Lineage
Industry
Warehousing & Supply Chain Logistics
Employees
Approx. 26,000
Founding year
2012
Ticker
LINE
Filing Information
IPO file date
25/7/2024
No. of shares
47,000,000 shares
Price
Est at $70 - $82
Exchange
Nasdaq Global
Bookrunners
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Wells Fargo Securities
Derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how derivatives work and whether you can afford to take the high risk of losing your money. This is not investment advice. Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the Lead Traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
IPO Details
About Lineage
Lineage’s journey began with the acquisition of a cold storage warehouse, Seafreeze, in 2008. Since then, it has grown exponentially, with 111 facilities in 21 states, and is ranked as the second largest temperature-controlled warehousing and logistics company in the United States.Lineage Logistics also ranks 23rd in Fast Company’s list of the World’s Most Innovative Companies.
The warehousing giant, which services household names like Amazon, Walmart, and PepsiCo, has boosted its revenue 38% over the past 7 years, anchored, in part, by the company’s decision to invest in Michigan as its place to do business.
Lineage IPO Figures & Valuation
Lineage is poised to be the largest global IPO of the year to date with an estimated valuation of up to $19.16 billion in its U.S. IPO as stated by Avery Marquez, assistant portfolio manager at Renaissance Capital. This is significantly larger than the current biggest IPO of 2024, which raised $1.5 billion (Viking Holdings).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 to $82 each.
Lineage has raised equity capital worth more than $9 billion since inception from institutional investors such as BentallGreenOak, Stonepeak, Dan Sundheim’s D1 Capital, and Oxford Properties, according to its IPO prospectus.
For full-year 2023, Lineage earned $243.9 million on revenue of $5.34 billion, up from $233.6 million in net operating income on revenue of $4.93 billion in 2022.
Significant Investors and Market Interest
The Norwegian wealth fund, Norges Bank Investment Management, has indicated an interest in purchasing up to $900 million worth of shares sold in the offering.Lineage Inc.’s controlling shareholder is Bay Grove Capital Group LLC, but the chilled-storage specialist has had more than two dozen institutional investors including Morgan Stanley (MS), Stonepeak Partners, StepStone, Cohen & Steers, and D1 Capital Partners.
Sources: Reuters, marketwatch, Michigan Economic, IPO Scoop
Norwegian Wealth Fund Shows Interest in Lineage Shares
The Norwegian wealth fund, Norges Bank Investment Management, has indicated an interest in purchasing up to $900 million worth of shares sold in the offering.Lineage Has had More Than Two Dozen Institutional Investors
Lineage Inc.’s controlling shareholder is Bay Grove Capital Group LLC, but the chilled-storage specialist has had more than two dozen institutional investors including Morgan Stanley, Stonepeak Partners, StepStone Group, Cohen & Steers, and D1 Capital Partners.Summary
Ticker
LINE
Price
Est at $70 - $82
Exchange
Nasdaq Global
Bookrunners
Morgan Stanley, Goldman Sachs & Co. LLC, BofA Securities, J.P. Morgan and Wells Fargo Securities
Key Points
Get a quick overview of the essential figures for the Lineage IPO.
IPO file date
25/7/2024
Valuation
$19.16 Billion
Trade Lineage (LINE)
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NAGA is a trademark of The NAGA Group AG, a German based FinTech company publicly listed on the Frankfurt Stock Exchange | WKN: A161NR | ISIN: DE000A161NR7.
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RISK WARNING: Trading leveraged products (CFDs) and real shares involves significant risk, including the potential loss of your initial investment, and may not be suitable for all investors. Before trading or investing, you are strongly advised to read and ensure you understand the relevant Risk Disclosure and warnings included in the Company's legal documents section. There is a substantial risk that you may lose all of your initial investment when trading or investing. We recommend that you carefully consider whether trading leveraged products or investing in shares is appropriate for you in light of your personal circumstances, and ensure you fully understand all associated risks before proceeding. 21.57% of retail investor accounts generate profits when trading leveraged products with this provider. Trading with NAGA Trader by following and/or copying or replicating the trades of other traders involves high levels of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Before making an investment decision, you should rely on your own assessment of the person making the trading decisions and the terms of all the legal documentation.
Disclaimer: The content on this page is for informational purposes only and is not intended as a recommendation or advice. Any references to past performance, emulated performance, or forecasts in the Company’s advertisements are not reliable indicators of future results. Customers are solely responsible for their own business decisions or investments.