• Most Popular
  • Most Shared

FACTBOX-Banks would be big winners in Visa IPO

Fri Mar 14, 2008 2:04pm EDT

Stocks

   

March 14 (Reuters) - Following is a list of Visa Inc's largest shareholders, and the proceeds they are expected to see from the credit card processor's initial public offering planned for next week.

Stocks  |  IPOs  |  Funds News  |  ETFs News

In the eagerly awaited offering, Visa planned to sell 406 million Class A shares at $37 to $42 each, for proceeds of $15 billion to $17 billion, according to a regulatory filing last month.

Of that, Visa's member banks, stemming from a previous membership-based ownership structure, would be the biggest beneficiaries, with total proceeds of about $10.2 billion, Visa said in an amended registration statement.

* JP Morgan Chase & Co (JPM.N), selling roughly 28.7 million shares for proceeds of as much as about $1.2 billion.

* Bank of America Corp (BAC.N), selling roughly 14.3 million shares for proceeds of as much as about $600 million.

* National City Corp NCC.N, selling roughly 9.9 million shares for proceeds of as much as about $416 million.

* Citigroup Inc (C.N), selling roughly 6.9 million shares for proceeds of as much as about $290 million.

* U.S. Bancorp (USB.N), selling roughly 6.2 million shares for proceeds of as much as about $260 million.

* Wells Fargo & Co (WFC.N), selling roughly 6.2 million shares for proceeds of as much as about $260 million.

** Source: Visa Inc amended registration statement with the U.S. Securities and Exchange Commission, with proceeds calculated based on an IPO price of $42 per share. (Reporting by Lilla Zuill, editing by Gerald E. McCormick)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article