(Reuters) - Cold storage giant Lineage said on Tuesday it is seeking to raise up to $3.85 billion in its initial public offering in the United States.

The real estate investment trust, backed by private equity firm Bay Grove Capital, is offering 47 million shares at a price range of $70 and $82 each.

The U.S. IPO market is on a rebound this year, after a global slowdown in 2022 and 2023 due to rising interest rates and geopolitical turmoil, as rising hopes of a soft landing for the economy encourage companies to move ahead with their listings.

Lineage will list on the Nasdaq Global Select Market under the symbol "LINE".

The offering is being underwritten by a syndicate of more than 20 Wall Street banks led by Morgan Stanley, Goldman Sachs, BofA Securities, J.P. Morgan Securities and Wells Fargo Securities.

KKR Capital Markets is acting as the lead financial adviser for the offering.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shinjini Ganguli)