Since listing on the Australian share market in June 1994, CSL Ltd (ASX: CSL) shares have delivered sensational returns for investors.
In fact, if you had invested modestly in the biotechnology stock's initial public offering (IPO), you would be a millionaire now.
The CSL IPO
CSL listed on the Australian share market in 1994 for a stock-split-adjusted price of just $0.76 per share.
This means that if you had invested $3,000 into the company's shares at that point, you would own 3,947 shares today.
So, with the CSL share price currently fetching approximately $282.00, those shares would have a market value of just over $1.1 million.
That means an investment of just $3,000 in this ASX stock would have made you a millionaire.
Can this stock make more millionaires?
While there's a big difference in investing in CSL today compared to back in 1994, that doesn't mean that it can't continue to be a millionaire maker stock. You may just have to invest more.
For example, over the last 10 years, the company has generated an average total return of 15.5% per annum.
While there's no guarantee that it will be able to do the same in the future, let's see what could happen if it does.
If you were to invest $3,000 in CSL shares now and then continued to top up your holding with additional $3,000 investments each year, you would have grown your portfolio to $1 million in 26 years.
Incidentally, the team at UBS sees CSL as a great option today. The broker currently has a buy rating and $330.00 price target on its shares. This implies potential upside of approximately 17% for investors from current levels.
