UPS Aiming for Record $4.6-Billion IPO

United Parcel Service Inc., the world’s largest package delivery company, said it would raise as much as $4.6 billion in its initial public offering in what could be the biggest IPO ever. Atlanta-based UPS expects to sell a 9.1% stake in the company, in the form of Class B common stock, for as much as $42 a share, according to its filing with the Securities and Exchange Commission. At that price, the market value of UPS would be about $50 billion. UPS said it will offer 109.4 million Class B shares for $36 to $42 each. The company didn’t disclose those terms when it initially filed for the stock sale in July. If shares sell for $42 each, the offering would bring in about $4.6 billion--more than Conoco Inc.’s U.S. record-setting $4.4-billion IPO in October 1998. Employees who hold shares are scheduled to vote Monday on the proposed stock sale. If they approve it, UPS plans to hold the sale in November.