The Highest-Grossing Global IPOs of All Time
The carmaker sold about 478 million shares for $33 a share, raising at least $18 billion. Throw in the value of preferred shares and other options, and the IPO is likely to reap a global record of at least $22.7 billion. GM returned return to the New York Stock Exchange (NYX) under its old ticker, GM. Shares popped 9% soon after the opening bell.
Not only would the GM IPO eclipse the previous U.S. record held by Visa (V), which raised $19.65 billion in March 2008, according to data from Thomson Reuters, it would become the biggest on the planet (not adjusted for inflation). The previous record of $22.1 billion was raised by Agriculture Bank of China just four months ago (see table below).