22 May 2015

VisaNet IPO totals $4.3bn

26 June 2009  |  6800 views  |  2 credit card

Visa's Brazilian affiliate VisaNet is raising around $4.3 billion in its initial public offering, the biggest in the world for over a year.

The Sao Paulo-based credit card company's shareholders - including Visa, Banco Bradesco, Banco do Brasil and Banco Santander - sold 559.81 million shares at a price of 15 reais each.

Book-building in the IPO closed out yesterday with shares set to begin trading on the Brazilian Stock Exchange on Monday.

According to a Reuters report, on Wednesday 19 brokerages were banned from participating in the IPO for allegedly releasing unapproved advertising material about the sale.

VisaNet was the first Brazilian IPO of the year and the country's biggest ever.

The shares were sold at the high end of the expected range, suggesting investor confidence in the potential for growth in Brazil's credit card market, which has grown at around 20% a year for the last 10 years.

Earlier this year Citigroup sold most of its 17% stake in Redecard, another Brazilian payments outfit which processes MasterCard and Diners Club transactions.
KeywordsFINDEX

Comments: (2)

James Van Dyke - Javelin Strategy and Research - Pleasanton | 26 June, 2009, 17:02

Great to see strong investor confidence in trusted payments brands. When industry leaders have a positive market reaction, it's good news for their overall industry!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Dean Procter - Transinteract - Sydney | 27 June, 2009, 13:09

I see a headline that may be a harbinger of the future!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

20 February, 2009
06 January, 2009
19 March, 2008
12 November, 2007
22 August, 2001

Related company news

 

Who is commenting?

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
5905 views comments | 45 tweets | 30 linkedin
MasterCard launches personal payments serv...
5498 views comments | 15 tweets | 26 linkedin
US banks bid to crack down on 'card cracki...
5292 views comments | 8 tweets | 10 linkedin
Rise of the FinTech - A threat to Retail B...
5147 views 3 | 7 tweets | 7 linkedin
UK opts out of European online payments se...
4701 views comments | 16 tweets | 13 linkedin

Featured job

Basic £90-110K OTE c. £200K AND NO CEILING
London based with substantial travel in the DACH Region

Find your next job