Despite gloomy finance climate, Visa raises 18 billion dollars
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Washington - Despite the gloomy US finance climate, investors rushed to Visa's initial public offering with 17.9 billion dollars, reports said Wednesday. The offering was opened Tuesday, when the world's largest payment and credit card network threw open the gates to sell 406 million shares at 44 dollars each - above the expected 37 to 42 dollars, Bloomberg financial news reported. The sale raised the San-Francisco-based company's value to 42.5 billion dollars, compared to rival MasterCard's 27.6 billion dollars.
Copyright DPA
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