March 21, 2008 / 5:04 AM / 10 years ago

Visa sells additional $1.8 billion of IPO shares

NEW YORK (Reuters) - Visa Inc (V.N) on Thursday said its bank underwriters bought another 40.6 million Class A shares at $44 apiece, to meet strong demand for the shares, part of the credit-card network’s record initial public offering on Tuesday.

The sale of the over-allotment shares, totaling $1.8 billion, will boost gross proceeds from the IPO to $19.7 billion. On a net basis, excluding fees and commissions, Visa and its bank owners raised $19.1 billion.

Reporting by Joseph A. Giannone, editing by Maureen Bavdek

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