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FACTBOX: Banks cash in on Visa IPO

Tue Mar 18, 2008 6:09pm EDT
 
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(Reuters) - Following is a list of Visa Inc's (V.N: Quote, Profile, Research, Stock Buzz) largest shareholders, and their estimated proceeds from the sale of shares in Visa's $17.9 billion initial public offering.

Visa sold 406 million Class A shares in the year's most eagerly awaited offering for a price of $44 per share on Tuesday.

Visa plans to use about $10.2 billion in proceeds to redeem shares held by some stakeholders, according to its amended registration statement with the U.S. Securities and Exchange Commission.

* JP Morgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz), selling roughly 28.7 million shares for proceeds of about $1.3 billion.

* Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz), selling roughly 14.2 million shares for proceeds of about $626 million.

* National City Corp (NCC.N: Quote, Profile, Research, Stock Buzz), selling roughly 9.9 million shares for proceeds of about $436 million.

* Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz), selling roughly 6.8 million shares for proceeds of about $300 million.

* U.S. Bancorp (USB.N: Quote, Profile, Research, Stock Buzz), selling roughly 6.3 million shares for proceeds of about $277 million.

* Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz), selling roughly 6.2 million shares for proceeds of about $273 million.  Continued...

 

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