Visa IPO - Biggest US IPO In American History
Visa’s shares surged 28 percent in the first day of trading. Volume was heavy, with more than 175 million shares changing hands. Visa planned to sell as much as $17.1 billion of stock in late March, following in the footsteps of its smaller rival MasterCard, which went public in May 2006. The company sold 406 million shares in the offering, raising just under $18 billion. This is no surprise since Americans use plastic over paper now a days. How often do you pay with cash anymore?
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