Cold storage REIT Lineage rises 5% in market debut (updated)

Lineage

25/07/2024 17:59

(Adds details on IPO market in paragraphs 2, 3)
       July 25 (Reuters) - Cold storage real estate investment
trust Lineage's  LINE.O  shares gained 5% in their Nasdaq debut
on Thursday, signaling investor enthusiasm for fresh stocks.
        Investors have showed a renewed interest for fresh
listing in 2024 on hopes of a soft landing for the economy,
after the U.S. IPO market remained subdued for over two years
due to geopolitical tensions and  high borrowing rates.
  
        Companies like cancer drug developer CG Oncology
 CGON.O  received a 
    warm welcome
     on its debut, and its shares trade nearly 75% above their
IPO price as of Wednesday's close.
  
        The REIT, backed by private equity firm Bay Grove
Capital, debuted at $82, above the offer price of $78 apiece,
giving the company a valuation of $19.2 billion.
  

 (Reporting by Pritam Biswas in Bengaluru; Editing by Shailesh
Kuber and Maju Samuel)
 ((Pritam.Biswas@thomsonreuters.com;))