Visa sets possible record $18.8 billion IPO |
| Reuters - Feb 25, 2008 |
Visa Inc, the world's largest credit card network, said on Monday it may raise up to $18.8 billion in the largest initial public offering ever, amid concern the global credit crunch could eat into card volumes.
The company filed with the U.S. Securities and Exchange Commission to sell 406 million Class A shares at $37 to $42 each, resulting in $15 billion to $17.1 billion of proceeds. Visa said it might sell another 40.6 million shares to meet demand, boosting the IPO's potential size to $18.8 billion.
A successful IPO would surpass the $10.6 billion offering in 2000 by AT&T Wireless Group. San Francisco-based Visa plans to list on the New York Stock Exchange under the symbol "V."
Read Full Article from Reuters
- Posted: 2008-02-25 09:28:28
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