Visa hopes to raise $10b in IPO
Sunday, 11 November 2007
SAN FRANCISCO, Nov 10 (AP): Visa Inc. hopes to cash in on its massive credit and debit card network by raising up to US$10 billion in what would be the second largest initial public offering of stock in US history.
The San Francisco-based company disclosed its target amount late Friday in documents it filed with the Securities and Exchange Commission (SEC), a significant step in a hotly anticipated initial public offering (IPO) expected to take place early next year.
Visa didn't specify how much stock would be sold or at what price per share. A proposed ticker symbol wasn't listed either. All that information will emerge in future filings leading up to the IPO.
If Visa realises its $10 billion goal, it would be raising the second most ever generated in an IPO by a US company, according to data maintained by the research firm Renaissance Capital. AT&T Wireless Group raised $10.6 billion in an IPO completed in April 2000 near the height of the dot-com boom.
The San Francisco-based company disclosed its target amount late Friday in documents it filed with the Securities and Exchange Commission (SEC), a significant step in a hotly anticipated initial public offering (IPO) expected to take place early next year.
Visa didn't specify how much stock would be sold or at what price per share. A proposed ticker symbol wasn't listed either. All that information will emerge in future filings leading up to the IPO.
If Visa realises its $10 billion goal, it would be raising the second most ever generated in an IPO by a US company, according to data maintained by the research firm Renaissance Capital. AT&T Wireless Group raised $10.6 billion in an IPO completed in April 2000 near the height of the dot-com boom.