MasterCard Incorporated announced today that its initial public offering of 61,520,912 shares of its Class A common stock has been priced at $39.00 per share. The shares will begin trading tomorrow on the New York Stock Exchange under the trading symbol “MA.” The company will retain $650 million of the proceeds of the sale, with the remainder used to redeem shares held by current shareholders.
"Listing on the NYSE marks a major milestone for MasterCard and reinforces our commitment to continued growth and building value for our customers and stockholders," said Robert W. Selander, MasterCard president and chief executive officer.
Goldman, Sachs & Co. is the global coordinator and one of four joint book-runners for the offering, together with Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and J.P. Morgan Securities Inc. The co-managing underwriters in the syndicate are Bear Stearns & Co. Inc, Cowen and Company, LLC, Deutsche Bank Securities Inc., Harris Nesbitt Corp., KeyBanc Capital Markets, a division of McDonald Investments Inc. and Santander Investment, S.A.
MasterCard has granted the underwriters of the offering an option to purchase up to 4,614,077 additional shares within 30 days to cover over-allotments.