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Credit Card Network Visa Files for IPO

Visa Inc. filed with regulators on Friday to raise up to $10 billion in an initial public offering of Class A common stock.

The world's largest credit card network did not reveal in its registration statement with the U.S. Securities and Exchange Commission how many shares it plans to offer or their expected price.

It also did not disclose where it plans to list the stock or under what symbol.

Visa first outlined plans in October 2006 to float a majority of the company, which is now owned by its 13,400 member banks.


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