Americold, a provider of temperature-controlled warehousing and transportation, has launched an initial public offering with the aim of raising as much USD 360 million (EUR 300 million).
The Atlanta, Georgia, U.S.A.-based company will offer 24 million shares at a price range between USD 14.00 and 16.00 (EUR 11.66 and 13.33) – a range that would generate between USD 336 million and 384 million (EUR 280 million and 320 million), excluding fees.
Americold operates 158 warehouses totaling 945 million cubic feet of storage in the United States, Canada, Australia, New Zealand, and Argentina, and owns a minority interest in a joint venture in China. It is a key cog in the supply chain for numerous seafood companies operating in the U.S. and abroad, connecting food producers, processors, distributors, and retailers to the end consumer.
The common shares have been approved for listing on the New York Stock Exchange and, subject to official notice of issuance, will trade under the symbol COLD, according to the company. Americold said it expects to grant its underwriters a 30-day option to purchase up to an additional 3,600,000 common shares following the IPO.
