NOVI, MICH. — On July 24, Lineage Inc. announced the pricing of its underwritten initial public offering (IPO) of 56.9 million shares of its common stock at $78 per share — the upper end of its original range of $70 to $82.

The cold-storage warehouse operator raised $4.44 billion in its US IPO, setting it up for the biggest stock market debut globally this year, according to a report from Reuters.

The most recent IPO to surpass Lineage came from chip designer Arm Holdings PLC at $4.87 billion last September, the report noted.

Lineage’s common stock began trading on the Nasdaq Global Select Market on July 25 under the ticker symbol “LINE” and will close on July 26.

According to the company, it is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3 billion cubic feet of capacity across countries in North America, Europe and Asia-Pacific.

Lineage partners with some of the world’s largest food and beverage producers, retailers and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste and feed the world.

This past year, Lineage partnered with JBS USA to construct a 200,000-square-foot facility in Windsor, Colo. The facility has the capacity to hold over 20,000 pallet positions.

Another recent project was the construction of a 386,000-square-foot cold storage warehouse in Hazleton, Pa. The fully automated facility can accommodate roughly 85,000 pallet positions for temperature-controlled products.