Visa Sets Value On IPO Shares

Published February 29, 2008, 4:16 p.m. EST

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Updated August 27, 2020, 1:22 a.m. EDT

1 Min Read

SAN FRANCISCO - Visa Inc. last week set a projected value on its shares in its planned initial offering, including the Class B shares that will be apportioned to credit union and bank owners of Visa. Visa plans to raise as much as $18 billion with the sale of 447 million Class A common shares at as much as $42 each, which would make it the largest IPO ever. The shares will be listed on the NYSE under the symbol “V.” The proceeds from the IPO will be used to buy back 123 million Class B shares being issued to credit unions and banks at a ratio of 0.72 Class A shares for each Class B share, making the approximate value of each Class B share $30. Regulators have notified CUs they may continue to hold Visa shares issued in the IPO. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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