Top 10 Biggest IPOs in History

1. Saudi Aramco (2019) – $25.6 Billion

Saudi Aramco’s IPO in December 2019 remains the largest in history, raising a staggering $25.6 billion. The state-owned oil giant initially offered 1.5% of its shares on the Saudi Stock Exchange (Tadawul), later increasing the total to $29.4 billion with an overallotment option.

• Valuation: $1.7 trillion (world’s most valuable company at the time)
• Key Factors: Dominance in global oil supply, high profitability
• Post-IPO Performance: Shares rose, reinforcing Saudi Arabia’s economic diversification plans

2. Alibaba Group (2014) – $21.8 Billion

Chinese e-commerce giant Alibaba made history with its $21.8 billion IPO on the New York Stock Exchange (NYSE) in September 2014. The company sold 320 million shares at $68 each, later reaching a market cap exceeding $231 billion.

• Valuation: $168 billion at IPO
• Key Factors: Dominance in China’s e-commerce, strong investor confidence
• Post-IPO Performance: Shares surged, making it one of the world’s most valuable tech firms

3. SoftBank Group (2018) – $21.3 Billion

Japan’s SoftBank Group raised $21.3 billion in December 2018 by listing its telecom unit, SoftBank Corp., on the Tokyo Stock Exchange. Despite mixed reactions, it became Japan’s largest-ever IPO.

• Valuation: $60 billion
• Key Factors: Strong domestic telecom business, investor interest in tech
• Post-IPO Performance: Shares initially dipped but later stabilized

4. Nippon Telegraph and Telephone (1987) – $15.3 Billion

Japan’s Nippon Telegraph and Telephone (NTT) held the record for the largest IPO for decades after raising $15.3 billion in 1987. The privatization of this telecom giant marked a milestone in Japan’s financial markets.

• Valuation: $40 billion
• Key Factors: Government-backed monopoly in telecom
• Post-IPO Performance: Solid long-term growth, remaining a key player

5. Visa (2008) – $17.9 Billion

Visa’s $17.9 billion IPO in March 2008 was the largest U.S. IPO at the time. The credit card giant issued 406 million shares at $44 per share, defying the financial crisis.

• Valuation: $51 billion
• Key Factors: Strong global payment network, recession resilience
• Post-IPO Performance: Shares soared, becoming a blue-chip stock

6. AIA Group (2010) – $17.8 Billion

Hong Kong-based AIA Group, a spin-off from AIG, raised $17.8 billion in October 2010. The IPO helped AIG repay its U.S. government bailout after the 2008 financial crisis.

• Valuation: $30.5 billion
• Key Factors: Strong Asian market presence, investor trust
• Post-IPO Performance: Consistent growth, expanding in emerging markets

7. General Motors (2010) – $15.8 Billion

After its 2009 bankruptcy, General Motors (GM) made a comeback with a $15.8 billion IPO in November 2010. The U.S. government sold part of its stake, reducing its ownership.

• Valuation: $49.5 billion
• Key Factors: Post-bankruptcy restructuring, electric vehicle push
• Post-IPO Performance: Mixed, but regained profitability

8. Facebook (2012) – $16 Billion

Facebook’s $16 billion IPO in May 2012 was one of the most anticipated tech listings. Priced at $38 per share, it initially faced volatility due to technical glitches and skepticism.

• Valuation: $104 billion
• Key Factors: Massive user base, ad revenue potential
• Post-IPO Performance: Recovered strongly, becoming a tech titan

9. Deutsche Telekom (1996) – $13.0 Billion

Germany’s Deutsche Telekom raised $13 billion in November 1996, Europe’s largest IPO at the time. The privatization helped modernize Germany’s telecom infrastructure.

• Valuation: $46 billion
• Key Factors: Monopoly in German telecom, European expansion
• Post-IPO Performance: Steady, with global telecom investments

10. Agricultural Bank of China (2010) – $12.0 Billion

The Agricultural Bank of China (ABC) completed a dual-listing IPO in 2010, raising $12 billion (total $22.1 billion with Hong Kong shares). It was the world’s largest IPO at the time.

• Valuation: $150 billion
• Key Factors: China’s banking sector growth, rural market dominance
• Post-IPO Performance: Stable, benefiting from China’s economic rise

Each of these IPOs represents a landmark moment in financial history, driven by market dominance, investor confidence, and economic significance. Their performances post-listing highlight the risks and rewards of high-stakes public offerings.