VISA Posts Record Offering In Spite Of Market Turmoil

March 2008 | IPO Analysis

Although rumours suggested that in the current volatile climate credit card network VISA would not be able to go through with its initial public offering (IPO) last week, the company did manage to float it shares in the US's biggest-ever offering. VISA's shares began trading on the New York Stock Exchange on March 19, after the California-based company had sold over 406 million shares at $44 each. The offer was above the guideline price of $37 to $42 a share, and raised $17.9 billion, eclipsing the US's previous record IPO, a US$10.6bn offering by AT&T Wireless Group in April 2000.

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