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Banking, finance, and taxes

Visa Taking $17.9 Billion in Market Trading Capital (V)

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By Douglas A. McIntyre Updated Published

Visa, Inc. (NYSE: V) will trade this morning.  The deal has priced at $44.00 per share, which is $2.00 above the range of $37.00 to $42.00 per share.  That is also what we noted as the gray-market indications yesterday afternoon.  The total amount that is going to be absorbed from this IPO is some $17.9 Billion.

This is the largest IPO in the U.S. and is actually the second largest global IPO in history behind the $22 Billion IPO of Industrial & Commercial Bank of China Ltd. in 2006.

Yesterday we noted that traders were hiding out in Visa’s member banks and owners as the way to get in on the IPO ahead of time if investors worried they weren’t going to get shares.

Lead underwriters include JPMorgan and Goldman Sachs.  The syndicate is actually huge.  Others listed are Banc of America, Citigroup, HSBC, Merrill lynch, UBS, Wachovia, CIBC, Daiwa Securities, Mitsubishi UFJ Securities, Piper Jaffray, RBC Capital, SunTrust Robinson Humphrey, and Wells Fargo.

Shares should begin trading shortly after the market open today.

Jon C. Ogg
March 19, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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