Nashville, Tennessee-based HCA Holdings Inc. today opened for trading on the New York Stock Exchange under the ticker symbol “HCA” after the successful completion of its IPO, in which it raised $3.79 billion in gross proceeds. The completion of HCA’s IPO marks the largest private equity-backed IPO in history.
The IPO of HCA (NYSE: HCA) surpasses the previous record PE-backed IPO by Kinder Morgan Inc. (NYSE: KMI), which raised $2.9 billion in its IPO last month; Semiconductor Manufacturing International Corp. (NYSE: SMIC), which raised $1.8 billion in 2004; and The Nielsen Company (NYSE: NLSN), which raised $1.65 billion in its IPO in January. The Nielsen Company became the largest U.S. PE-backed IPO in history in January, and was since surpassed by Kinder Morgan, which in turn has been surpassed by HCA. With the successful completion of HCA’s transaction, nine out of 10 of the largest-ever PE-backed IPOs in the world are listed on the NYSE, two of them cross-listed in Hong Kong.
"We believe today's announcement is very positive for all of our stakeholders, and we are pleased to celebrate this important day in the company's history. HCA's success is a reflection of a culture created by our founders, and the dedication of our physicians, nurses, and all our employees, whose compassionate care and commitment have been hallmarks of our company for more than 40 years," said Richard M. Bracken, Chairman and Chief Executive Officer, HCA.
“We are thrilled to welcome HCA, a leading provider of nationwide hospital services, to our growing network of healthcare companies,” said Scott R. Cutler, EVP and Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. “HCA is at the forefront of transforming the U.S. healthcare landscape and we look forward to a lasting partnership with the company and its shareholders.”
Executives and guests of HCA today visited the New York Stock Exchange to celebrate the successful completion of the company’s IPO and first day of trading on the NYSE. To highlight this special occasion, Mr. Bracken rang today’s Opening Bell.
Background: Top 10 PE-backed IPOS in History (prior to HCA) *:
Name (Symbol) Market/Date $$raised (excl. green shoe)
Kinder Morgan, Inc. (KMI) |
NYSE 2/10/2011 |
$2.9 billion |
SMIC (SMIC) |
NYSE-HK 3/4/2004 |
$1.8 billion |
Nielsen Holdings NV (NLSN) |
NYSE 1/25/2011 |
$1.65 billion |
Spirit Aerosystems Holdings Inc (SPR) |
NYSE 11/6/2006 |
$1.4 billion |
Huntsman Corp (HUN) |
NYSE 2/10/2005 |
$1.39 billion |
CNOOC (CEO) |
NYSE-HK 2/21/2001 |
$1.36 billion |
Hertz Global Holdings (HTZ) |
NYSE 11/15/2006 |
$1.32 billion |
Warner Chilcott Ltd (WCRX) |
Nasdaq 9/20/2006 |
$1.06 billion |
Dex Media Inc. (DEX) |
NYSE 7/21/2004 |
$1 billion |
Intrepid Potash Inc. (IPI) |
NYSE 4/21/2008 |
$960 million |
*Source: Dealogic. All dollar proceeds exclude Greenshoe amounts and/or over-allotments.