Cold-storage warehouse giant Lineage has nabbed the largest IPO of 2024 by raising USD 4.44 bn on the US stock market, selling some 57 mn shares, Reuters reported last week. The company’s shares rose by 5% in their Nasdaq launch on Thursday, debuting at USD 82 per share and valued at USD 19.2 bn, beating the previous offer price of USD 78, according to a separate Reuters report. The listing is forecasted to encourage other firms to list “later this year or early 2025,” AJ Bell investment analyst Daniel Coatsworth told the newswire.

About Lineage: Lineage, launched in 2008 by co-founders Adam Forste and Keven Marchetti, operates 482 temperature-controlled warehouses globally, according to Reuters. The firm has since expanded through over 116 acquisitions and saw a topline of USD 5.3 bn last year.

French shipping conglomerate CMA CGM saw a 6.8% y-o-y increase in shipping demand volumes in 2Q 2024, Reuters reported on Thursday. The increase came on the back of a wave of restocking in the US. “The pace of restocking, which is supporting demand, is in line with economic activity and so we are not worried about an abrupt reversal in the trend,” CFO Ramon Fernandez said. Brisk international trade and the Red Sea disruptions supported the shipping giant’s maritime sector in 2Q 2024, the firm said, adding that it expects the shipping market to remain steady later this year as new capacity arrives.

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