"NEW YORK (Reuters) - Visa Inc (V.N: Quote, Profile, Research) burned its name into the record books for U.S. initial public offerings on Tuesday, raising $17.9 billion as investors seized on its growth potential and lack of direct exposure to the global credit crisis.
San Francisco-based Visa, the world's largest credit card network, sold 406 million class A common stock for $44 per share, above the forecast range of $37 to $42.
Visa will begin trading on the New York Stock Exchange on Wednesday.
Anticipation for the IPO was high on hopes it will emulate the success of smaller rival MasterCard Inc (MA.N: Quote, Profile, Research), whose shares have more than quadrupled since its 2006 IPO..."
Is that one very early signal that we are reaching the bottom? Who knows. Time will only tell. Read the remaining of this article here.