Visa's record IPO raises some $17.9 billion |
| MarketWatch - Mar 19, 2008 |
Shares of Visa Inc. are expected to perform well in their trading debut Wednesday, as the credit-card giant lays claim to the largest initial public offering of stock in U.S. history.
Late Tuesday, Visa priced the hotly anticipated offering of 406 million shares at $44 each, pegging total proceeds at about $17.86 billion.
The pricing topped the previously estimated range of $37 to $42 a share. San Francisco-based Visa's shares will trade on the New York Stock Exchange.
"Despite the broad market malaise in 2008, especially in financials, the Visa deal was a triumph not only for the investors but for the underwriters who had to put together, in an artful way, the biggest IPO in U.S. history. I see a strong future for Visa," said Scott Sweet, senior managing partner at IPO Boutique.
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- Posted: 2008-03-19 10:01:48
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