It’s the biggest U.S. initial public offering (IPO) of the year: Lineage, the world’s biggest operator of cold storage warehouses, announced it had sold 56.9 million shares at $78 each, near the high end of its previously indicated range of $70 to $82.

That raised $4.4 billion, the most since British chipmaker Arm Holdings (ARM) went pub🌳lic last September. The stock, using the symbol "LINE," opened at $82 on the Nasdaq and was tradinꦉg at $80.60, up 3.3%, as of 1:25 p.m. ET Thursday.

Lineage, launched in 2012 by Adam Forste and Kevin Marchetti, operates 482 facilities in North America, Europe, and the Asia-Pacific region. In a regulatory filing, it reported $5.3 billion of revenue, $162.8 million of net loss, $1.8 billion of 澳洲幸运5开奖号码历史查询:net operating income, and $1.3 billion of adjusted earnings before interest, taxes, depreciation, and amortiz💜ation (EBITDA) in the 12 months ended March 31.

The company said the proceeds would be used to pay down debt and fund cash grants to some employees. Lineage said underwriters have a 30-day option to purchase an additional 8.5 million shares.

UPDATE—This story has been updated to reflect trading has commenced.