The #2 IPO in history is a $500M IPO by Citigroup, says Bloomberg
Bloomberg News – The #1 IPO in the history of finance, Citigroup Inc. is now the top-performing stock in the S&P 500 index after raising a record $500 million, according to data compiled by Bloomberg.
The fund’s market value is up 7.4% year to date, and the Dow Jones Industrial Average is up 22.4%.
The fund, which is owned by Bank of America Corp., is the largest shareholder in all 50 states.
Bank of American has a majority stake in the fund, according a spokeswoman.
Citigroup’s shares rose 7.5% in afternoon trading on the New York Stock Exchange.
Citicles market value in June was $5.8 billion, according for the S & P 500.
It’s the largest one-day gain in a year, and its 10-year average is up 27%.
The Fund, which has raised more than $500 billion, is a “major beneficiary of the recent economic recovery,” Citigroup said in a statement.
Bank’s stock rose 0.9% in early trading.