ARAMARK (ARMK) and Hilton (HLT), which were acquired in 2007 in two of the largest pre-recession LBOs, gained 14% and 8% on Thursday after raising a combined $3 billion in IPOs on Wednesday. Hilton (HLT) may have been weighed down by its larger deal size ($2.4 billion vs. $725 million): Since 2010, roughly two thirds of billion-dollar IPOs have had first-day pops of less than 10%.
| Ten Largest IPOs Since 2010 | ||||
| Company (Ticker) | Offer Date | Deal Size ($B) | First-Day Return | Return as of 12/12 |
| Facebook (FB) | 5/17/2012 | $16.0 | 0.6% | 36.4% |
| General Motors (GM) | 11/17/2010 | $15.8 | 3.6% | 21.4% |
| HCA Holdings (HCA) | 3/9/2011 | $3.8 | 3.4% | 54.4% |
| Santander Mexico (BSMX) | 9/5/2012 | $2.9 | 6.0% | 12.8% |
| Kinder Morgan (KMI) | 2/10/2011 | $2.9 | 3.5% | 9.6% |
| Plains GP Holdings, LP (PAGP) | 10/15/2013 | $2.8 | 0.0% | 10.7% |
| Hilton Worldwide (HLT) | 12/11/2013 | $2.4 | 7.5% | 7.5% |
| Zoetis (ZTS) | 1/31/2013 | $2.2 | 19.3% | 19.9% |
| Twitter (TWTR) | 11/6/2013 | $1.8 | 72.7% | 112.8% |
| Nielsen Holdings (NLSN) | 1/25/2011 | $1.6 | 8.7% | 86.8% |
