Lineage, the largest refrigerated-storage company in the world by capacity, plans to raise up to $3.85 billion in a blockbuster initial public offering that would be one of the biggest listings of the year.

Cold storage real estate investment trust Lineage said on Tuesday it was aiming for a valuation of up to $19.16 billion in its U.S. initial public offering, in what would be this year's biggest listing.

Temperature-controlled storage and logistics giant Lineage Inc. is seeking to raise as much as $3.85 billion in its initial public offering.