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美股历史上七宗最大的IPO

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    This year has been a record showing for initial public offerings in the U.S. Companies have raised $73.6 billion so far this year, a more than 84% gain from 2013.

    The figures are certainly helped along by one of the massive offerings below (see: Alibaba), but the boom nevertheless reflects the strength of the overall market. The third quarter saw the highest proceeds from IPOs of any quarter since the end of 1999. Not only that, this year’s offerings have performed well, returning an average 8.3% from their offer price, according to data compiled by Renaissance Capital.

    Even though this has been a standout year for new issues, it has featured only one of the biggest IPOs ever. On the whole, IPOs this year have raised much more modest sums. For example, Alibaba’s record-breaking $22 billion offering was larger than all the other IPOs combined during the third quarter. The other six blockbuster offerings stretch back as far as 1996.

    Here are the 7 biggest IPOs ever.

    1. Alibaba Group: $25 billion

    今年,美国的首次公开募股(IPO)交易总规模创下了一个历史记录。迄今为止,本年度在美上市企业通过IPO共筹集了736亿美元,较2013年增长逾84%。

    在下列几桩庞大的IPO交易中,有一家公司[参见:阿里巴巴(Alibaba)]的IPO显然对以上数字构成了提振,但美国IPO市场的景气还是反映了整体市场的实力。今年第三季度IPO筹资规模高于自1999年末以来的任何一个季度。不仅如此,根据Renaissance Capital整理的数据显示,今年进行IPO的公司股价表现都不错,迄今较发行价平均上涨8.3%。

    虽然今年是新股发行表现突出的一年,但只有一家公司入围史上规模最大的IPO之列。整体而言,今年在美上市的企业通过IPO募集的资金规模不俗。比如说,阿里巴巴破纪录的250亿美元IPO超过第三季度其他所有公司的IPO总和。史上其他六个轰动一时的IPO交易最早可以追溯到1996年。

    以下为美国史上最大的七桩IPO交易。

    1. 阿里巴巴集团:250亿美元

    Alibaba Group BABA 0.80% has been the headline leading IPO of 2014. The Chinese e-commerce company initially priced its shares at $68 a piece to raise $21.8 billion. After a huge first-day reception, when shares opened 36.3% higher than their offering price, the banks released their overallotment option, making Alibaba's final IPO total worth $25 billion. That makes it the world's biggest offer ever, a title previously held by Agricultural Bank of China's $24.3 billion IPO.

    The company's shares have not performed as well as the first-day pop. Alibaba's stock is down 2.4% since its Sept. 18 debut.

    中国电子商务公司阿里巴巴集团的IPO2014年独占鳌头。该公司最初将其IPO价格定为每股68美元,以期筹集218亿美元。没想到在上市首日获得市场热烈追捧(开盘价较IPO发售价跃升36.3%),承销商纷纷行使超额配股权,最终使得阿里巴巴IPO融资规模升至250亿美元。这使其超过了中国农业银行243亿美元的IPO记录,问鼎全球有史以来最大的IPO。

    在上市首日飙升后,阿里巴巴集团股价表现平平,目前较9月18日首日上市以来累计下跌2.4%。


    2. Visa: $17.9 billion

    2. Visa:179亿美元

    Visa, the world's largest payments-card network, launched its IPO during the height of the financial crisis in March of 2008 and in the midst of the worst offering market since 2001. Visa priced its shares above the expected range at $44 each, raising $17.9 billion. That made it the largest U.S. IPO at that time.

    The offering's success falsely reassured market-watchers that the worst of the market collapse was over. The S&P 500 index would reach its lowest level during the recession nearly a year later on March 6, 2009.

    Visa V -1.12% has proved to be a good bet for those that got in on the ground floor. Its stock has more than doubled since its debut.

    3. Enel: $16.5 billion

    世界上最大的支付卡网络运营商Visa于2008年3月推出IPO,当时正值全球金融危机最严重之时,也是美国新股市场自2001年以来最糟糕的时候。Visa将其IPO发售价格定为每股44美元,高于市场预估区间,共筹集179亿美元,成为当时美国史上最大的IPO。

    该公司的成功上市使得市场观察人士错误地以为美国股市最糟糕的时刻已经过去。事实上,标准普尔500指数在1年以后的2009年3月6日才触及经济衰退的底部。

    对于那些及早买进Visa股票的投资者而言,它是一个不错的投资标的。该股股价自首日上市以来已上涨了一倍多。

    3. 意大利国家电力公司:165亿美元

    Enel, the Italian power company, jumped into the U.S. public market in 1999 after the Italian government liberalized the power industry. The company sold 30% of its stock at 4.3 euros a share to raise a total of $16.5 billion. When it started trading on Nov. 1, Enel became the world's largest publicly-traded electrical utility.

    The stock no longer trades on the NYSE. It was delisted in 2007 due to low trading volumes and is now trades in Milan.

    在意大利电力行业市场化改革后,意大利国家电力公司于1999年赴美上市。该公司以每股4.3欧元的IPO发行价格发售了30%的股份,共筹集165亿美元。意大利国家电力公司于当年11月1日启动上市交易,一跃成为世界上最大的公开上市电力公司。

    目前该公司已经不在纽约证券交易所(NYSE)交易。由于交易量低,该公司于2007年从该交易所摘牌退市,目前在米兰上市交易。


    4. Facebook: $16 billion

    4. Facebook:160亿美元

    Facebook had a notoriously rough offering, forcing underwriters to buy the company's stock on the first day of trading to keep it from falling below its $38 IPO price. Difficulties by Nasdaq in executing trades caused the problem.

    Before things went awry in initial trading, Facebook FB -0.41% raised $16 billion, which valued the social media powerhouse at 107 times trailing 12-month earnings. While investors were disappointed that there was no first-day pop, those who stuck with the company's stock since it's IPO have gained 105%.

    5. General Motors: $15.8 billion

    众所周知,Facebook的上市并不顺利,承销商们不得不在其上市交易首日买进该股,以防止其跌破每股38美元的IPO发行价。纳斯达克交易平台在执行交易指令方面出现的故障是导致Facebook上市失利的原因。

    该社交媒体巨头通过IPO筹集了160亿美元,对应静态市盈率高达107倍,但上市后运道不济。虽然该股上市首日没有大幅上涨而令投资者感到失望,但该股股价自IPO以来已累计上涨105%。

    5. 通用汽车公司:158亿美元

    General Motors went public only 17 months after its government-funded bankruptcy in June 2009. The 106-year-old automaker sharply lowered costs and expanded into key growth markets like China, which helped renew investor confidence in a company that required a $50 billion bailout.

    GM GM 1.52% priced its shares at $33 each, raising $15.8 billion. At the time, the U.S. Treasury was the largest shareholder, and has since sold all of its common shares. GM's stock has had a wild ride since its debut, especially given the automaker's recent high level of recalls. The stock is down nearly 10% since its offering.

    6. Deutsche Telekom: $13 billion

    2009年6月,通用汽车公司获得政府救助进行破产重组。仅仅17个月后,该公司便成功上市。这家有106年历史的汽车制造商大幅降低了成本并扩张至中国等关键增长型市场,重获投资者信心。而此前,该公司申请获得500亿美元政府救助款。

    通用汽车将其IPO发行价定为每股33美元,融资158亿美元。该公司上市时,美国财政部(U.S. Treasury)是其第一大股东,但此后出售了所持有的全部通用汽车普通股。上市后,通用汽车的股价波动较大。近期该公司接连有大规模召回,对股价影响尤为显著。该股股价自IPO以来已累计下跌近10%。

    6.德国电信:130亿美元


    Deutsche Telekom, Germany's largest phone company, raised $13 billion when it went public in the U.S. market in 1996. It is the oldest IPO to make the list. The company delisted from the NYSE in 2010 after saying it wanted to reduce its reporting obligations and administrative costs.

    However, vestiges of the company remain on the U.S. market. The company's subsidiary, T-Mobile US TMUS -1.13% , later went public by combining with MetroPCS in a reverse merger in October 2012.

    7. AT&T Wireless Group: $10.6 billion

    德国最大的电信公司德国电信于1996年赴美上市,通过IPO筹集了130亿美元。这是本榜单上历史最悠久的IPO。该公司于2010年从纽约证券交易所退市,因其希望减少报告义务和行政成本。

    不过,在美国资本市场上仍能看到该公司的影子。德国电信旗下子公司T-Mobile US后来通过与MetroPCS公司合并,于2012年10月实现借壳上市。

    7. AT&T 无线集团:106亿美元

  AT&T exists today in a form much different form than the AT&T Wireless Group that went public in 2000 to the tune of $10.6 billion. Back then, it was the wireless subsidiary of AT&T Corp., which eventually transformed into Cingular Wireless before wrapping back into its iconic telephone-company parent. The company dubbed the company's latest iteration the "new" AT&T in 2005. That version of the company still exists pretty much intact today and trades under its historic ticker symbol: T.

    AT&T 无线集团于2000年通过IPO融资106亿美元。这家公司的结构随后发生变化。当时,该公司是美国标志性电信企业AT&T Corp旗下子公司,后来重组更名为Cingular Wireless,但其资产最终又重新注入母公司。到2005年,该公司再次重组改名,成为“新”AT&T。此后,该公司的资产结构至今仍基本保持不变,并沿用其历史交易代码:T。

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