Largest IPOs of All Time Worldwide

An Initial Public Offering (IPO) is the process through which a private company offers shares of its stock to the public for the first time. The funds raised through an IPO can be used for various purposes, such as expanding operations, paying off debt, or investing in research and development. Going public also increases a company’s visibility and credibility, often leading to greater access to capital in the future.

The largest IPOs of all time have been significant milestones in the financial markets. This showcases the immense capital-raising capabilities of some of the world’s most influential companies. These landmark events not only provided substantial funds for the companies involved but also reflected broader economic trends, technological advancements, and the evolving landscape of global industries. The biggest IPOs have left a lasting impact on the market, setting benchmarks for future public offerings.

List of Top 10 Largest IPOs of All Time Worldwide

1. Saudi Aramco

Saudi Aramco’s IPO is the largest in history, raising $25.6 billion initially, later increasing to $29.4 billion with the greenshoe option. Listed on the Tadawul (Saudi Stock Exchange) in December 2019, the state-owned oil giant’s offering underscored Saudi Arabia’s efforts to diversify its economy away from oil dependency. The IPO was a significant milestone in the financial world, marking the highest valuation for any company at the time.

2. Alibaba Group

Alibaba Group’s IPO in September 2014 raised $25 billion, making it the largest IPO at that time. The Chinese e-commerce titan chose the New York Stock Exchange (NYSE) for its listing, highlighting its global ambitions. Alibaba’s successful debut reflected the robust growth of e-commerce in China and the company’s dominance in the sector. The IPO was a pivotal moment for the Chinese technology industry, setting the stage for other tech giants to follow suit.

3. SoftBank Group

SoftBank Group’s IPO of its mobile unit, SoftBank Corp., raised $23.5 billion in December 2018. Listed on the Tokyo Stock Exchange, it was Japan’s largest IPO and underscored SoftBank’s significant role in telecommunications and technology. The offering provided SoftBank with substantial capital to continue its aggressive investment strategy in global technology startups through its Vision Fund.

4. Agricultural Bank of China

The Agricultural Bank of China (ABC) raised $22.1 billion in its dual listing on the Shanghai and Hong Kong stock exchanges in July 2010. As one of China’s “Big Four” banks, ABC’s IPO was a testament to the strength and growth of China’s banking sector. The massive offering highlighted the increasing importance of Chinese financial institutions in the global market and their ability to attract international investors.

5. Industrial and Commercial Bank of China (ICBC)

The Industrial and Commercial Bank of China (ICBC) raised $21.9 billion in its October 2006 IPO, with a dual listing on the Hong Kong Stock Exchange and the Shanghai Stock Exchange. ICBC, the world’s largest bank by assets, demonstrated the growing influence of Chinese financial institutions on the global stage. The successful IPO showcased the bank’s strong financial performance and investor confidence in China’s economic prospects.

6. AIA Group

AIA Group’s IPO raised $20.5 billion when it went public on the Hong Kong Stock Exchange in October 2010. As a leading pan-Asian life insurance group, AIA’s listing was significant for the insurance industry in Asia. The IPO provided AIA with the capital to expand its footprint across the region and reinforced Hong Kong’s status as a premier financial hub for large-scale public offerings.

7. Visa Inc.

Visa Inc.’s IPO in March 2008 raised $19.7 billion, marking a significant event in the financial services sector. Listed on the NYSE, Visa’s offering was notable for its timing amid the global financial crisis. Despite the challenging economic environment, the IPO was highly successful, underscoring Visa’s dominant position in the global payments industry and the resilience of its business model.

8. General Motors

General Motors (GM) raised $18.5 billion in its November 2010 IPO on the NYSE. The offering marked GM’s return to the public markets after its government bailout and restructuring during the financial crisis. The successful IPO was a key milestone in GM’s recovery, restoring investor confidence and providing the company with the capital needed to innovate and compete in the global automotive industry.

9. NTT DoCoMo

NTT DoCoMo raised $18.05 billion in its October 1998 IPO, making it one of the largest offerings of its time. The mobile communications subsidiary of Nippon Telegraph and Telephone (NTT) is listed on the Tokyo Stock Exchange, reflecting Japan’s leadership in telecommunications technology. The IPO helped NTT DoCoMo expand its services and maintain its position as a market leader in mobile communications.

10. Enel Group

Enel, the Italian energy company, raised $16.59 billion in its 1999 IPO. Listed on the Borsa Italiana in Milan, Enel’s offering was one of the largest in Europe at the time. The IPO marked a significant step in the liberalization and privatization of Italy’s energy sector, providing Enel with the capital to invest in renewable energy and expand its operations internationally.

11. Facebook

Facebook’s IPO in May 2012 raised $16 billion, making it one of the largest technology IPOs in history. Listed on NASDAQ, the social media giant’s offering was highly anticipated, reflecting the rapid growth and influence of social media platforms. Despite initial trading issues, the IPO underscored Facebook’s dominant position in the digital advertising market and its potential for long-term growth and innovation.

12. Deutsche Telekom

Deutsche Telekom’s IPO in November 1996 raised approximately $13 billion, marking one of the largest public offerings of its time. The German telecommunications giant is listed on the Frankfurt Stock Exchange, symbolizing the privatization of former state-owned enterprises in Europe. The IPO was a pivotal moment for Deutsche Telekom, providing the capital needed to modernize its infrastructure and expand its services across Europe and beyond. The successful listing also highlighted the growing investor interest in the telecommunications sector during the late 1990s tech boom.

Conclusion

The largest IPOs of all time have demonstrated the remarkable ability of major corporations to attract massive investor interest and secure substantial capital for expansion and innovation. These public offerings have not only transformed the companies themselves, enabling them to scale their operations and enhance their market positions. We gain insight into the dynamic forces that drive economic growth and the critical role of public investment in shaping the future of business and technology.