10 Biggest U.S. IPOs

This story has been updated from its initial publication of Nov. 18, 2010.

NEW YORK ( TheStreet) -- Facebook's much-anticipated filing of its S-1 Securities and Exchange Commission registration statement after the market closed Wednesday has gotten the investment world buzzing.

Facebook is looking to raise $5 billion through an initial public offering, but could raise as much as $10 billion if all the overallotment shares are sold, some say. It is expected to price its shares in the spring under the ticker "FB."

The social media giant is being peddled as the largest recent technology IPO. According to a Renaissance Capital IPO index, Zynga ( ZNGA) raised $1 billion in December, Renren ( RENN) raised $743 million in May, Groupon ( GRPN) raised $700 million in November and LinkedIn ( LNKD) raised $292 million in May- -- even Google's ( GOOG) 2004 IPO of just $1.7 billion will likely fall short of Facebook's IPO.

Compared with other industries, Facebook's expected deal size isn't so impressive, although so far this year none match up: four U.S. IPOs have priced for companies that have a market cap of greater than $50 million. The proceeds from those companies totaled $400 million. Eighteen others have filed registration forms, according to Renaissance Capital.

The stocks that have priced this year haven't seen much of a pop on their first day of trading. On average, those stocks fell 22% on the first day. The average IPO this year has returned 10.3% from its offer price, Renaissance Capital says.

We looked at the 10 largest U.S. offerings in history according to Dealogic.

10. HCA Holdings
Background: HCA Holdings ( HCA), the parent company of the Hospital Corporation of America, is a fairly new addition to the top 10 list. The health care services operator underwent an IPO in March, raising $4.4 billion, after being taken private in 2006. Headquartered in Nashville, HCA operates and owns 163 hospitals and 109 freestanding surgery centers as well as diagnostic and imaging centers, radiation and oncology therapy centers, rehabilitation and physical therapy centers and other facilities, according to its profile.

Approximately 4% to 5% of all inpatient care delivered in the country today is provided by HCA facilities, the company says.

Stock performance: Shares of HCA fell 29% last year from March 10, the first day of trading. The stock closed Wednesday at $24.97.

9. Conoco
Background: Oil and gasoline company Conoco originally went to market in October 1998, after its previous parent, DuPont, the chemicals giant, decided to spin it off. The IPO raised $4.4 billion.

Conoco merged with Phillips Petroleum in 2002. The larger energy corporation is called ConocoPhillips ( COP).

Stock performance: Shares of ConocoPhillips rose 7% in 2011. The stock closed Wednesday at $69.32.

8. The Blackstone Group
Background: Blackstone ( BX) became a public company in June 2007 when it raised $4.8 billion in its much talked about IPO. Blackstone's IPO was controversial because it was one of the largest private equity firms to look to the public markets for capital amid a so-called frothy market that was starting to show signs of trouble and ultimately led to a global recession. As well a bulk of the IPO proceeds went to Blackstone's founders, including co-founder and chairman and CEO Stephen Schwarzman.

Blackstone had priced its IPO aggressively at $31 a share, and while the stock made strong gains during its first day of trading, the shares could not hold on to the gains, especially as the market began to crumble.

Stock performance: Blackstone shares fell about 1% last year. The stock closed Wednesday at $16.64.

7. CIT Group
Background: CIT Group ( CIT), the commercial finance company underwent an initial public offering in July 2002, in which it raised $4.9 billion.

But the financial crisis proved troublesome for CIT, which ultimately changed into a bank holding company so that it could accept an injection from the Troubled Asset Relief Program in late 2008. CIT ultimately declared bankruptcy in November 2009 and was also delisted from the NYSE. However, it was approved for reorganization plans a month later.

Stock performance: CIT shares sank 26% last year. The stock closedWednesday at $39.05.

6. KKR Private Equity Investors
Background: In May 2006, KKR Private Equity Investors, a publicly traded private equity fund that invests as a fund of funds, raised $5.1 billion after listing in Amsterdam.

In July 2010, KKR Private Equity Investors' parent, KKR ( KKR), or Kohlberg, Kravis Roberts, delisted from the Euronext Amsterdam exchange, where it had traded since October 2009 after it acquired KKR Private Equity Investors, and began trading on the New York Stock Exchange, according to the company's 2010 annual report.

KKR made a name for itself in the leveraged buyout space in the 1980s, culminating with its record breaking buyout of RJR Nabisco in 1989. It also performed the largest buyout ever of TXU in 2007.

Stock performance: KKR shares fell 5.4% last year. The stock closed Wednesday at $14.56.

5. United Parcel Service
Background: UPS ( UPS) had one of the largest IPOs of its time. In November 1999, it raised $5.5 billion. The Atlanta-based logistics and delivery company is easily identified by its brown parcel trucks. However the company has been growing its store franchises, named The UPS Store as well after acquiring Mail Boxes Etc.

Stock performance: UPS shares rose 3.4% last year. The stock closed Wednesday at $76.78.

4. Kraft Foods
Background: Kraft Foods ( KFT) priced at $31 a share when Philip Morris spun it off in June 2001, raising $8.7 billion and making it the third-largest IPO in the U.S., to date.

Kraft Foods, based in Northfield, Ill., is one of the largest food makers in the world and the parent of popular brands including Nabisco, Oscar Mayer, Oreo and Maxwell House coffee. In January 2010, the company won a months-long bid for U.K.-based Cadbury, eventually winning the candy maker for $19 billion. The deal was completed in the spring.

Moving forward, Kraft announced in August plans to split into two independent public companies -- "a high-growth global snacks business" and a "high-margin North American grocery business." The transaction is expected to be completed by the end of this year.

Two weeks ago, the company said it was planning to realign its U.S. sales division, consolidate U.S. management centers and streamline its corporate and business unit organizations, resulting in 1,600 job eliminations (most in sales, but about 20% were open positions), it says.

Stock performance: Shares of Kraft rose 23% last year. The stock closed Wednesday at $38.47 .

3. AT&T Wireless Services
Background: AT&T Wireless debuted in a public offering in April 2000, raising a whopping $10.6 billion. The IPO was meant to separate the telecom company's mobile and landline phone business one month before the dot-com bubble bursting.

In 2004, AT&T Wireless was acquired by Cingular, a joint venture between SBC Communications and BellSouth. SBC also acquired the original AT&T the following year and the wireless provider was eventually folded back in. The entire conglomerate was renamed AT&T ( T).

Most recently, AT&T's planned acquisition of T-Mobile from Deutsche Telekom was denied by the Federal Communications Commission and Department of Justice. AT&T said publicly in December that it would end its bid for the rival.

Stock performance: Shares of AT&T rose just 1.6% last year. The stock closed Wednesday at $29.60.

2.General Motors
General Motors ( GM) ended up raising $18.1 billion in its November 2010 IPO, falling just short of the top U.S.-listed IPO, according to Dealogic.

GM filed for bankruptcy in June 2009 and was delisted from the New York Stock Exchange at the time. The company relisted its stock under the venerable ticker "GM" on the NYSE.

Stock performance: Shares of GM sunk 45% last year. The stock closed Wednesday at $24.37.

1.Visa
Background: Visa's ( V) IPO in March 2008 was a big gamble considering that the markets had crumbled just months earlier. But despite the market forces surrounding the IPO, it was one of the most talked about and highly demanded initial public offerings in years.

For context, Visa underwent the offering in a year when just 46 U.S. IPOs were completed. The Visa IPO accounted for two-thirds of the total U.S. IPO volume in 2008, according to Dealogic.

Investors were eager to buy shares of the San Francisco-based electronic payments processor, particularly as it boasted double digit growth rates as Visa and its smaller rival, MasterCard ( MA) look to continue to convert consumers and businesses into using cards as payment instead of cash. Visa priced shares at $44 a share, but on its first day of trading the stock shot out of the gate at $59.50.

Visa garnered a record-breaking $19.65 billion in the IPO, when all was said and done.

Stock performance: Shares of Visa surged 45% last year. The stock closed on Wednesday at $102.51.

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

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