Visa, the largest payment card processing company priced its offering at $44 per share on Tuesday. The deal was expected to be priced between $37 and $42. The stock opened at $68 and quickly traded down to $59. Visa, in the largest public offering in the U.S., raised $17.9 billion and offered 406 million shares. The offering values the company at $42.5 billion. MasterCard, the second largest processor jumped to $215 in the morning trading. |
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