Liz Kiesche,
kefkenadasi
- Lineage Inc., a landlord owning temperature-controlled warehouses, filed a registration statement with the U.S. Securities and Exchange Commission to sell shares of its common stock through an initial public offering.
- The REIT said the timing, number of shares to be offered, and the price range for the proposed offering haven’t been determined yet.
- Lineage plans to apply to list its common stock on the Nasdaq Global Select Market under the ticker symbol “LINE”.
- For the year ended Dec. 31, 2023, the company generated revenue of $5.34B, up from $4.93B in 2022 and $3.70B in 2021, the company said in its SEC filing. Net operating income of $1.75B increased from $1.46B in 2022 and $1.13B in 2021.
- 2023 core FFO of $415.7M rose from $400.2M in 2022 and $335.4M in 2021. Adjusted FFO of $562.3M climbed from $551.9M in the prior year and $465.5M in the year before that.
- Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan, and Wells Fargo Securities are acting as joint lead book-running managers.