http://money.cnn.com/2008/03/19/news/companies/visa_ipo_opens.fortune/index.htm
*Hopes are running high that Visa's record-breaking IPO will revive the sleepy market for new shares.
*Visa's public offering made its new owners very, very rich when it priced Tuesday night for a record-breaking $17.9 billion
*It sold 406 million shares at $44 a share, $2 above its estimated $39-$42 rang.
*Analysts also say that Visa is on solid financial footing and has what it takes to deliver steady earnings growth
*Visa also said it would rake in approximately $17.3 billion in net proceeds, leaving about $600 million to cover things like underwriting fees, discounts and commissions
*analysts believe its success could breathe life into a stagnant IPO market.
*Visa is getting in a period when so few IPOs have been done that underwriters are not making money in fees. The success of this deal could slowly rekindle the IPO market.
Wednesday, March 19, 2008
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