Wednesday, February 27, 2008

Visa unveiled plans to go public yesterday

In an SEC filing, the company said it would offer up to 446 million shares at $37-42 a pop. Thus, the company may raise up to $19 billion -- the largest IPO in history by nearly a factor of two. AT&T’s 2000 IPO scrounged up a measly $10 billion.

Visa will be the last major credit card company to go public. While we dare not speculate on the short-term outlook of the IPO… if MasterCard’s recent offering is any indication, Visa’s will be the buy of the year:

There is no exact date set as to when Visa will begin trading, but rumor has it ticker “V” will be tradable by March 20.

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