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Visa expects to raise up to $18.76 billion from public offering of up to 446.6 million shares

Visa expects to raise up to $18.76 billion from public offering of up to 446.6 million shares

Visa said Monday it expects to raise almost $19 billion (euro12.8 billion) from an initial public offering, which would easily become the largest IPO in U.S. history.
San Francisco-based Visa Inc. said in a Securities and Exchange Commission filing it will to offer 406.6 million shares at $37 (euro24.92) to $42 (euro28.29) per share. There will be an option for its underwriters to buy an extra 40.6 million shares to cover any excess demand.
The filing also showed rival credit card companies MasterCard Inc. and American Express Co. trailing Visa in transactions in 2006.
At $18.76 billion (euro12.63 billion), the Visa IPO of up to 446.6 million Class A shares would surpass the $10.6 billion (euro7.14 billion) AT&T Wireless offering in 2000. It would be almost as big as the two largest past deals combined _ AT&T's offering and Kraft Foods' $8.7 billion (euro5.86 billion) offer in 2001.


Updated : 2021-01-23 15:40 GMT+08:00