SAN FRANCISCO — Visa USA has filed the paperwork for its initial public offering of stock, an offering that analysts say will make it the second largest in U.S. history.
The card brand told the Securities and Exchange Commission on Nov. 9 that it planned to raise $10 billion through the offering. AT&T in April of 2000 garnered $10.6 billion in its initial offering.
MasterCard raised roughly $2.5 billion in its May 2006 offering and has since seen; shares rise five-fold.
Visa told the SEC that it earned $771 million on revenue of $3.73 billion for the first nine months of the year and $437 million on revenue of $3.91 billion in 2006. It also said it processed 44 billion transactions worth about $3.2 trillion in 2006 compared to almost 24 billion transactions worth $1.9 trillion for MasterCard.
Visa didn't indicate how many shares it planned to offer or what its anticipated ticker symbol would be.
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