FORTUNE – For all the attention the media gives Internet companies when they go public, it's worth noting that the majority of the biggest IPOs in 2013 will not be related to the tech world, at least not directly.
The latest example comes from Hilton Worldwide, which on Monday said it could raise as much as $2.4 billion. It plans to sell 112.8 millions shares for $18 to $21 each; selling additional shares to banks could put the proceeds at as much as $2.72 billion. If that happens, Hilton, which plans to return to the public market this month, would be the second biggest IPO this year, outshining online micro-blogging service Twitter, which last month raised $1.8 billion when it listed on the New York Stock Exchange.
The biggest IPOs this year aren't always the companies that make major headlines in the mainstream press. With about a month left before the end of the year, proceeds from U.S. IPOs total $43.4 billion, ahead of 2012's $42.4 billion and trailing only 2007's $48.7 billion. This is the highest total since the tech bubble, according to Renaissance Capital. The majority of the 10 biggest public offerings this year have come from companies that have been around for more than a decade – besides technology, they have been concentrated in health care and financial services. Such companies probably don't garner as much attention because they are a lot less consumer focused than the likes of Twitter and Facebook.
True, Hilton is a big name. Unlike Twitter (TWTR), however, the hotel chain is profitable and has a history that stretches back by nearly a century. The Blackstone Group (BX) took it private for $20 billion in 2007, shortly after the recession began, as hotel operators were hurt by a drop in business travel, fewer vacationers, and falling real estate prices. Hilton has since bounced back, as the hotel industry continues to recover and investors look to cash in as stock prices soar.
The biggest IPO so far this year has come from Houston-based oil pipeline company Plains GP Holdings (PAGP), which raised $2.8 billion in October, followed by Zoetis (ZTS), that is if Hilton doesn't unseat the 60-plus-year-old maker of vaccinations and medicines for pets and livestock. A subsidiary of Pfizer (PFE), the company raised $2.2 billion when it went public in January.
Here are the 10 biggest IPOs of 2013:
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Xagenic Inc., a Toronto-based developer of a lab-free molecular diagnostic platform, has raised C$20 million in Series B funding. Domain Associates led the round, and was joined by return backers CTI Life Sciences Fund and the Ontario Emerging Technologies Fund. www.xagenic.com
MetaPack, a UK-based provider of delivery management solutions for retailers, has raised £20 million in growth equity funding MOREDan Primack - Dec 2, 2013 11:10 AM ET
Time Inc. is being spun out of Time Warner. It isn't going to be pretty.
FORTUNE -- [This post requires a disclaimer right up top: I work for Fortune, which is published by Time Warner magazine subsidiary Time Inc. The man pictured above is my boss's boss's boss's boss. Well, at least until Time Warner spins out Time Inc. early next year. Got all that? Okay, moving on.]
Fingers crossed. That was MOREDan Primack - Nov 26, 2013 3:34 PM ET
Zulily shares pop big on first day of trading, generating huge returns for its venture capitalists.
FORTUNE -- Shares in e-commerce company Zulily (ZU) have popped more than 75% in their first day of trading, following an IPO that raised $253 million. The Seattle-based company priced 11.5 million shares at $22 a piece (above its expected range), and opened trading at $39.40 per share. As of this writing, they were sitting MOREDan Primack - Nov 15, 2013 12:16 PM ET
Zulily is going public tomorrow at a $2.6 billion valuation. Read all about it here, because no one else seems to care.
FORTUNE -- It has been more than an hour since Zulily (ZU), a flash sales site focused on children and mothers, announced that it has raised $253 million in its IPO. This should be a very big deal among the tech press. Four-year old ecommerce company now valued at MOREDan Primack - Nov 14, 2013 7:48 PM ET
IBM (NYSE: IBM) has agreed to acquire Fiberlink Communications, a Blue Bell, Penn.–based mobile management and security company. No financial terms were disclosed. Sellers include Edison Ventures, NewSpring Capital and Technology Crossover Ventures. www.ibm.com
Goldman Sachs has sold its remaining 17.49 million shares in MRC Global Inc. (NYSE: MRC), a distributor of pipes, valves and fittings to the energy industry. Goldman Sachs acquired MRC via a buyout in 2007, and brought it public last year. www.mrcglobal.com
uadMed LLC, a MOREDan Primack - Nov 14, 2013 10:27 AM ET
David Bonderman isn't in a hurry, but he also isn't slamming the IPO door shut.
FORTUNE -- TPG Capital is the largest private equity firm in America that isn't publicly traded, with more than $55 billion in capital under management. And that isn't expected to change any time soon, although TPG boss David Bonderman today nudged the door open a crack, while speaking at the NY Times Dealbook Conference.
"We haven't been MOREDan Primack - Nov 12, 2013 12:47 PM ET
ACON Investments and TPG Capital have agreed to sell all of their interests in downstream energy company Northern Tier Energy LP (NYSE: NTI) to Western Refining Inc. (NYSE: WNR), for $775 million. www.ntenergy.com
Oxford Instruments PLC (LSE:OXIG) has offered to acquire Andor Technology PLC (AIM:AND), a UK-based maker of scientific digital cameras, for approximately £160 million, or £5 per share (25% premium to yesterday's closing price). www.andor.com
Evogene Ltd., an Israeli plant genomics company, has set its IPO terms to 5 million shares being MOREDan Primack - Nov 12, 2013 10:35 AM ET
Alcatel-Lucent (Paris: ALU) is again seeking buyers for its enterprise business, according to Reuters. The company explored such a sale in 2011 but didn't find buyers, instead selling only part of the unit (Genesys) to Permira for $1.5 billion. Lazard is managing the new process. www.alcatel-lucent.com
John Wood Group PLC (LSE: WG) has agreed to acquire Elkhorn Holdings Inc., a Wyoming-based provider of infrastructure construction and maintenance services to the U.S. energy market. No financial MOREDan Primack - Nov 11, 2013 11:00 AM ET
Congress wants to squeeze more tax revenue out of Twitter, but it's looking in the wrong place.
FORTUNE -- As Wall Street toasted Twitter this week, a very different view toward the company took hold in Washington, D.C., where Senators John McCain (R-AZ) and Carl Levin (D-MI) accused Twitter of exploiting a massive tax loophole. Specifically, they wrote:
"When Twitter goes public later this week, the company may avail itself of this existing MOREDan Primack - Nov 7, 2013 5:06 PM ET
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