The Conservative Cave
Current Events => Economics => Topic started by: Duke Nukum on March 17, 2008, 08:31:26 PM
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Market turmoil will not stop Visa IPO: analysts
By Lilla Zuill
NEW YORK (Reuters) - Visa Inc, which plans to float its shares on the New York Stock Exchange on Wednesday in the biggest U.S. initial public offering ever, will not be deterred by market turmoil that has taken a severe toll in recent days, analysts said on Monday.
"I do hear that the deal is on and is expected to be strong," said Sal Morreale, who tracks IPOs for Cantor Fitzgerald in Los Angeles.
Visa has filed to sell 406 million Class A common shares at $37 to $42 apiece, for proceeds of $15 billion to $17 billion.
If demand is strong, an additional 40 million shares could sell, pushing proceeds as high as $19 billion. Even at the low end of expectations, the IPO would set a record in the United States, beating out AT&T's $10.6 billion deal in 2000.
http://www.reuters.com/article/ousiv/idUSN1759139120080317