The credit card networking services provider Companhia Brasileira de Meios de Pagamento, or Visanet, is planning an initial public offering on Bovespa, the Sao Paulo Stock Exchange, it said Tuesday in a filing with the Brazilian Securities Commission.
Visanet did not disclose a timetable or financial details of the IPO, which still must be approved by the commission.
Visanet is 40% controlled by Banco Bardesco and 32% by the state-run Banco do Brasil SA. The Brazilian subsidiary of ABN Amro holds 14%, Visa Inc. has 10%, and other investors have 4%.
If successful, the Visanet IPO could turn out to be one of the largest share offerings of its kind in Brazil, rivaling the July 2007 IPO of Redecard SA of Brazil.
Redecard and its controlling shareholders raised $2.83 billion in the IPO. Redecard is jointly controlled by Citigroup Inc. and Banco Itau and Unibanco of Brazil.
