In 2024, Lineage will commence trading in the market's largest initial public offering (IPO).

• During its market debut on the Nasdaq, Lineage's stock price increased by up to 5%.
• Since Arm's $4.8 billion listing in September, the company has raised $4.4 billion at an implied valuation of over $18 billion, making it the largest public offering.
• The company is the largest global temperature-controlled warehouse REIT, with 480 locations across North America, Europe, and Asia.

The largest temperature-controlled warehouse REIT in the world, Lineage, experienced a 5% increase in its Nasdaq Stock Market debut on Thursday, under the ticker symbol "LINE."

On Wednesday, Lineage priced 57 million shares at $78 each, near the upper end of its initial target range of $70 to $82. The company raised $4.4 billion at an implied valuation of over $18 billion, making it the largest public offering since chip designer's $4.8 billion listing last September and more than twice the size of cruise operator Viking Holdings, which went public in May.

This year, Lineage ranked No. 46 on the CNBC Disruptor 50 list, which is a four-time company.

The company's success can be attributed to its proactive approach to acquisitions.

"We began with one warehouse and have completed 116 acquisitions to transform Lineage into its current state," Adam Forste, co-founder and co-executive chairman, stated on CNBC's "Squawk Box" Thursday morning prior to trading.

In the past year, Lineage has purchased Grupo Fuentes, Burris Logistics, Kennedy Transportation, and Harnes, resulting in eight new facilities through the acquisition of Burris Logistics alone.

"We have acquired numerous companies from families who have rolled equity into Lineage, and we are celebrating with them today," Forste stated, explaining that the name of the company comes from the network of family-owned warehouses that he and co-founder Kevin Marchetti have integrated into the business.

Over 480 cold-storage facilities have been accumulated by Lineage, with a total capacity of approximately 2.9 billion cubic feet across North America, Europe, and the Asia-Pacific region. This global network of facilities helps to minimize food waste in the supply chain and its environmental impact.

The waste of $600 billion worth of food during or after harvest accounts for about 11% of the world's emissions, making it one of the biggest environmental issues contributing to climate change.

The lead underwriters for Lineage's offering were Morgan Stanley, Goldman Sachs, Bank of America, J.P. Morgan, and Wells Fargo.