When German telecommunications giant Deutsche Telekom AG issued its IPO on Nov. 17, 1996, it was the largest in European history. The company that spawned T-Mobile released more than 713 million shares of itself. By the end of the day, Deutsche Telekom had raised $12.48 billion [source: BusinessWeek].
Trading on the European exchange began on Nov. 17, 1996, and raised the value of the stock to $22.45. Investors who bought the stock as trading began and sold it an hour later made a 19 percent profit for their trouble [source: Ascarelli].
Trading of what came to be one of the hottest telecom stocks in Europe at the beginning of the dot-com bubble was heavy. It was so heavy, in fact, that the European exchange extended their daily trading hours until 7 p.m. for a full week following Deutsche Telekom's IPO [source: Ascarelli].