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Visa Moves Up IPO Offering For Wednesday Trade

Bear Stearns is not the only one making changes to their calendar. Credit card giant Visa, which was scheduled to price its mammoth IPO Wednesday night for trading Thursday, is moving the offering up to price Tuesday night for trading trade on Wednesday.

Four hundred and six million shares will be offered between $37-$42, all by the company (42 percent of the company is being sold). This should eventually translate into a nice windfall for JP Morgan (23.3 percent), Bank of America (owns 11.5 percent), Citigroup (5.5 percent), and Wells Fargo (5 percent), who are all shareholders. JP Morgan and Goldman are the lead managers.

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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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