Visa is to raise $19 billion

The world’s biggest credit card company is planning to raise $19 billion from a long planned for public offering of its shares. This event can become the largest initial public offering in US history. On Monday during filing the necessary paperwork at the Securities and Exchange Commission Visa officials claimed that the shares are planned to be sold at between $37 and $42 each.

Over the past decade electronic payment networks have experienced a tremendous growth due to the inevitable transition from paper-based payments like cash and checks to plastic cards and other electronic payment systems. It is expected that plastic card purchases will grow 11% between 2006 and 2012 globally. The growth will result from the emerging markets of Asia and Latin America.
Visa’s stock exchange symbol will appear as “V”.