Visa IPO priced at record $17.9 billion, or $44 a share -
NEW YORK (Fortune) -- Visa buyers paid a whopping $17.9 billion, or $44 a share, when the company priced its initial public offering Tuesday evening.
The number punctuated a Wall Street comeback that included another Federal Reserve rate cut, surprisingly strong earnings results from Goldman Sachs and Lehman Brothers, and a 420-point spike in the Dow, its largest one-day point gain in five years.
The San Francisco-based credit card processor became the largest IPO ever, surpassing the $11 billion record held by AT&T (T, Fortune 500) wireless as well as its own $37 to $42 a share price range.
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