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Aramark IPO raises $690M
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December 10, 2001: 7:21 p.m. ET
Aramark Worldwide raises $690 million, pricing 30 million shares at $23.
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NEW YORK (CNN/Money) - Aramark Worldwide Corp., which provides outsourced services such as food concessions, uniforms and facility maintenance, raised $690 million with its initial public offering Monday, pricing at the top of its range.
Aramark, which provides services to clients such as the Atlanta Braves, Boston University and the State of Kansas Department of Corrections, priced 30 million shares at $23 per share.
Led by Goldman Sachs, J.P. Morgan and Morgan Stanley, Aramark plans to trade on the New York Stock Exchange as "RMK."
Forbes ranked Aramark the 16th largest private company this year, and placed 17th the prior two years.
The company reported $176.5 million in income on $7.8 billion in sales in 2001 compared to $168 million in income on $7.3 billion sales in 2000.
Also Monday evening, Swiss insurance carriers Converium Holdings Ltd. raised $1.7 billion with its IPO, pricing 70 million American depositary shares at $24.59 per ADS, just a little higher than the middle of its range.
Led by UBS Warburg and Merrill Lynch, Converium plans to trade as "CHR" on the New York Stock Exchange. 
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