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Aramark jumps 14% in debut
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December 11, 2001: 11:45 a.m. ET
Provider of food concessions gains on NYSE, Converium inches up.
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NEW YORK (CNN/Money) - The initial public offering from Aramark Worldwide Corp. gained as much as 14 percent while the offering from reinsurer Converium Holdings Ltd. inched up Tuesday.
Shares of Aramark (RMK: up $2.95 to $25.95, Research, Estimates) hit a high of $26.25 and recently changed hands at $25.90. Converium Holdings (CHR: up $0.06 to $24.65, Research, Estimates) surged to $24.85 and recently traded at $24.70. Both IPOs made their debut on the New York Stock Exchange.
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Aramark CEO Joseph Neubauer chats with CNNfn's Rhonda Schaffler about going public, Sept. 11th and the company's future.
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Philadelphia-based Aramark raised $690 million late Monday, when it sold 30 million shares at $23 each, the top of its $20 to $23 price range, via lead underwriters Goldman Sachs and J.P. Morgan.
Aramark Worldwide provides outsourced services such as food concessions, uniforms and facility maintenance to clients including the Atlanta Braves, Boston University and the State of Kansas Department of Corrections.
Converium Holdings raised $1.7 billion with its IPO, pricing 70 million American depositary shares at $24.59 each, just a little higher than the middle of its range. UBS Warburg and Merrill Lynch were lead underwriters on the IPO.
Zurich, Switzerland-based Converium offers life and non-life reinsurance throughout the world. 
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