Visa Inc, the world's largest credit card network, on Tuesday raised $17.9 billion in an initial public offering, the largest-ever U.S. IPO. ( Reuters )
San Francisco-based Visa, the world's largest credit card network, sold 406 million class A common stock for $44 per share, compared with a forecast range of $37 to $42 a piece, according to an underwriter.
Underwriters, led by JPMorgan and Goldman Sachs have the option to purchase an additional 40.6 million shares to cover overallotments, according to an amended registration statement with the U.S. Securities and Exchange Commission.
The company has been approved to list its shares on the New York Stock Exchange under the symbol "V".