Tuesday, March 18, 2008

Recession? - Visa raises $17.9 billion in record IPO

There are recessions, and then there are recessions. While prices are soaring in grocery and clothing stores, San Francisco-based Visa sold 406 million class A common shares for $44 per share, for a total of 17.9 billion.

According to Reuters, the underwriters, led by JPMorgan (there is that name again) and Goldman Sachs have the option to purchase an additional 40.6 million shares to cover overallotments, which would make the offering closer to 20 billion dollars if the entire overallotment is used.

Visa raises $17.9 billion in record IPO: Financial News - Yahoo! Finance
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