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Visa is pressing ahead with plans to raise a record amount of cash by issuing hundreds of millions of shares and listing on the New York Stock Exchange.
The offering from the biggest credit card network in the world would be the culmination of a major restructuring which began almost 18 months ago.
Visa - currently owned by the banks which issue cards carrying the Visa symbol - wants to raise more than $18bn (£9bn) from the move.
This would make it the biggest-ever Initial Public Offering in the US.
Some $10.2bn (£5.2bn) of the net proceeds from the listing will be paid to the banks who own the network.
Meanwhile $3bn (£1.5bn) will be set aside to cover the costs of a variety of litigation that Visa is currently involved with.
That includes allegations of price-fixing from major retailers.
In a filing with the Securities and Exchange Commission, Visa said it planned to sell 406 million Class A shares at between $37 (£18.80) and $42 (£21.30) per share.
It might also sell another 40.6 million shares if there is sufficient demand, which would boost the potential size of the offering to $18.8bn (£9.5bn)
The money raised would dwarf the listing of its rival Mastercard, which raised $2.4bn (£1.2bn) in May 2006.
Visa Moves To Raise £9bn With Major Shares Offering |Sky News|Business
The offering from the biggest credit card network in the world would be the culmination of a major restructuring which began almost 18 months ago.
Visa - currently owned by the banks which issue cards carrying the Visa symbol - wants to raise more than $18bn (£9bn) from the move.
This would make it the biggest-ever Initial Public Offering in the US.
Some $10.2bn (£5.2bn) of the net proceeds from the listing will be paid to the banks who own the network.
Meanwhile $3bn (£1.5bn) will be set aside to cover the costs of a variety of litigation that Visa is currently involved with.
That includes allegations of price-fixing from major retailers.
In a filing with the Securities and Exchange Commission, Visa said it planned to sell 406 million Class A shares at between $37 (£18.80) and $42 (£21.30) per share.
It might also sell another 40.6 million shares if there is sufficient demand, which would boost the potential size of the offering to $18.8bn (£9.5bn)
The money raised would dwarf the listing of its rival Mastercard, which raised $2.4bn (£1.2bn) in May 2006.
Visa Moves To Raise £9bn With Major Shares Offering |Sky News|Business
