The world witnessed a wave of initial public offerings (IPOs) from some of the world's largest and most innovative corporations. These companies represented a wide range of industries, from technology and finance to retail and healthcare, and each brought to the market its own set of strengths and visions. Blackstone Group, Vonage Holdings Corp, and ICBC were among the notable companies that went public in 2006, each of which significantly impacted their respective industries and beyond. 

These companies set a high bar for future IPOs and continue to inspire today's business world by focusing on growth, innovation, and long-term success. Let's delve into some of these companies.

1. Pacific Airport Group

Companies that had their IPOs in 2006

Pacific Airport Group, or GAP (Grupo Aeroportuario del Pacifico), is a Mexican corporation that owns and operates 12 airports in Mexico, including those in Guadalajara, Tijuana, and Puerto Vallarta. GAP launched its initial public offering (IPO) in 2006, offering 74.2 million shares at 28 pesos per share. The initial public offering (IPO) took place on April 19, 2006, trading on the Mexican Stock Exchange (BMV) under the ticker symbol GAPB.

The IPO raised approximately 2.08 billion pesos ($872 million), which the company used to fund expansion projects and improve airport infrastructure and services. This included building new terminals, runways, and parking facilities, upgrading security systems, and introducing new technologies to improve the passenger experience. GAP has continued to grow and expand its operations since going public, focusing on enhancing its airports and providing high-quality services to its customers. 

2. Industrial and Commercial Bank of China (ICBC)

Companies that had their IPOs in 2006

The Industrial and Commercial Bank of China (ICBC) launched the most extensive IPO in 2006. ICBC is based in Beijing, China. It is one of China's "Big Four" banks and the largest bank in the world in terms of total assets, deposits, loans, and market capitalization.

ICBC's launched its IPO on October 20, 2006, with a listing on the Hong Kong and Shanghai Stock Exchanges. It issued 35.39 billion shares, 25.57 billion in Hong Kong, and 9.82 billion in Shanghai, raising $21.9 billion.

The IPO proceeds funded the bank's expansion plans, increasing its capital base and expanding its domestic and international operations. Some funds repaid debt and invested in technology and infrastructure upgrades to improve the bank's services and capabilities.

3. J. Crew

J. Crew is a well-known American clothing and accessory retailer established in 1983. In 2006, the company went public, selling 18.8 million shares of common stock for $20 per share. Goldman Sachs and Bear Stearns underwrote the IPO, listed on the New York Stock Exchange under the ticker symbol JCG.

The IPO was a success, raising $376 million. The proceeds helped reduce debt and invest in future growth opportunities, such as expanding its retail footprint and developing new product lines. J.Crew used more funds in research for new products and markets.

4. Master Card

Mastercard is one of the world's leading payment technology companies, offering customers in over 210 countries and territories secure, efficient, and innovative payment solutions. On May 25, 2006, the company went public and began trading on the New York Stock Exchange (NYSE) under the symbol "MA."

The IPO of Mastercard included 61.5 million shares of common stock priced at $39 per share. The IPO raised $2.4 billion, making it one of the year's largest IPOs. Goldman Sachs, Citigroup, and JP Morgan led the IPO underwriters.

The proceeds from the IPO purchased shares from Mastercard's existing shareholders, which included several large banks that previously owned the company. This move enabled Mastercard to become a publicly traded company while maintaining operational control. Mastercard has continued to be a market leader globally with quality service delivery.

5. Catalyst Phamacetaucals

Catalyst is a leading manufacturer of specialty chemicals and catalysts for the plastics, automotive, and pharmaceutical industries. On June 1, 2006, the company went public and began trading on the NYSE under the "CTL." symbol. The IPO included 12.5 million shares of common stock priced at $17 per share, which raised $20.1 million, with underwriters led by Goldman Sachs and Citigroup.

The proceeds paid off existing debt and fund capital expenditures. The company sought to expand its production capacity and invest in research and development to drive future growth. Catalyst has continued to grow and innovate, expanding its product portfolio and investing in new technologies and capabilities to meet its customers' changing needs. 

6. Vonage

Vonage is a New Jersey-based company offering residential and business customers internet-based communication services, including voice-over-IP. On May 24, 2006, the company began trading on the New York Stock Exchange (NYSE) under the symbol "VGVG." Vonage's IPO included 31.3 million shares priced at $17 per share, raising $531 million. Citigroup and UBS Investment Bank led the IPO underwriters.

The proceeds from the IPO funded Vonage's ongoing business operations, such as marketing and customer acquisition. Vonage has continued to operate and expand its business, providing customers with a variety of innovative communication services around the world. 

7. GateHouse Media

GateHouse Media is a local news content creation and distribution company. On October 4, 2006, the company began trading on the New York Stock Exchange (NYSE) under the ticker symbol "GHS." The company offered 13.4 million shares of common stock priced at $18 per share—the $249 million raised in the IPO paid down debt and fund expansion.

Despite a promising start, the stock price of GateHouse Media experienced significant volatility in the years following its IPO. Numerous challenges confronted the company, including declining print advertising revenue and increased competition from digital media platforms. The company's merger with Gannett has positioned itself for long-term growth and success in the rapidly changing media landscape.


The success of the 2006 IPOs demonstrates the economy's strength and the business community's tenacity. These companies have grown and evolved, continuing to innovate and push the boundaries of their industries. These companies' success is a reminder of the power of entrepreneurship and the potential for growth and success in the business landscape.