Visa Plans $17B IPO in Risky Market

Public offering would be the biggest in Wall Street history
By Jim O'Neill,  Newser User
Posted Feb 25, 2008 8:55 AM CST
Signs for American Express, Master Card and Visa credit cards are shown on a New York store's door on in this July 23, 2007 file photo. Americans are falling behind on their credit card payments at an...   (Associated Press)
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(Newser) – Visa is hoping to surpass rival MasterCard’s 2006 stock market debut with a $17 billion IPO that would be the largest in Wall Street history. The company today said it hopes to sell some 406 million shares for $37 to $42 each, reports the Wall Street Journal. The biggest previous IPO was AT&T Wireless Group’s $10.62 billion offering in 2000.

Visa is nearly twice the size of MasterCard, which has seen its share price grow 500% since its $2.4 billion IPO. Visa said it would sell another 40 million shares if demand warrants, taking its offering to $18.8 billion. IPOs have gotten a chilly reception lately with investors wary of new offerings. Visa will trade as “V” on the NYSE.