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global financial services brand. We have more branded credit and debit cards in circulation, more transactions and greater total volume than any of our competitors. We facilitate global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities. We provide financial institutions, our primary customers, with product platforms encompassing consumer credit, debit, prepaid and commercial payments. VisaNet, our secure, centralized, global processing platform, enables us to provide financial institutions and merchants with a wide range of product platforms, transaction processing and related value-added services. Based on the size of our network, the strength of the Visa brand and the breadth and depth of our products and services, we believe we are the leading electronic payments company in the world.
Chief executive:
Joseph W. saunders
Underwriters
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Goldman Sachs & Co
JP Morgan
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Cities
HSBC
Wachovia Securities
. Four minority-owned firms Gardner Rich & Company, Guzman & Company, the Williams Capital Group and Utendahl Capital Partners are listed as underwriters, though they are clustered at the bottom. They are smaller than most of the firms above them, ranging from Citigroup to Mitsubishi UFJ Securities to Fox-Pitt Kelton. Other 35 underwriters were also involve in ipo.
Commission to underwriters:
Underwriter had charged as much as 7% in fees for IPO.
Announcement of IPO:
On February 25, 2008, Visa announced it would go ahead with an IPO of half its shares. At the same date VISA went through filing with SEC with reg # 333-147296
Date of IPO:
Ipo of VISA took place on March 18 2008,tuesday.
Roadshows:
The high profile Visa global roadshow involved three teams travelling across three continents visiting 11 countries and 27 cities. In addition, Visa wanted a lasting memory of the roadshow that could be used as a showpiece for their listing dinner. Our dedicated team worked around the clock to plan, organise and execute all aspects with regards to this roadshow and its co-ordination. We produced 36 group investor meetings across the US, Europe, the Middle East and Asia, with over 1,700 investors in attendance, including nearly 700 attendees at the New York lunch alone. In addition, our team captured video footage on the road to develop into a memorable film for the management team and shown at the closing dinner.
Institutional investor:
JP Morgan was the largest investor of VISA by purchasing 29 million shares of VISA.