MarketWatch.com - Pre-Market Indications

Monday, March 17, 2008

Visa Moves Up IPO Offering For Wednesday Trade

Visa Moves Up IPO Offering For Wednesday Trade

Bear Stearns

Bear Stearns Co Inc
BSC

30.0 UNCH 0%
NYSE




[BSC 30.0 --- UNCH (0%) ] is not the only one making changes to their calendar. Credit card giant Visa, which was scheduled to price its mammoth IPO Wednesday night for trading Thursday, is moving the offering up to price Tuesday night for trading trade on Wednesday.

Four hundred and six million shares will be offered between $37-$42, all by the company (42 percent of the company is being sold). This should eventually translate into a nice windfall for JP Morgan (23.3 percent), Bank of America (owns 11.5 percent), Citigroup (5.5 percent), and Wells Fargo (5 percent), who are all shareholders. JP Morgan and Goldman are the lead managers.



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