Tuesday, February 26, 2008

Visa IPO could be biggest in U.S. history

Credit card company Visa Inc. said Monday it plans an initial public offering that could reach $18.76 billion US â?? which would make it the largest IPO in U.S. history.
The San Francisco-based company said in a filing with the U.S. Securities and Exchange Commission that it will offer 406 million shares at a price ranging between $37 US and $42 US per share. The company said another 40.6 million shares will be available to underwritersâ?? seeking to buy more stock.
Visa said back in October 2006 that it planned to restructure its business with an eye toward launching an IPO.
The Visa offering would top the 2000 IPO of AT&T Wireless of $10.6 billion US.
Visa's rival, Mastercard Inc., went public in May 2006. Mastercard's IPO raised $2.39 billion US
Shares of Mastercard have gone from the first day opening of $40.30 US to reach $203.48 US on Feb. 22. On Monday, Mastercard was off $7.79 at $195.69 US.

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