SAN FRANCISCO — Visa Inc. raised $17.9 billion late Tuesday to complete the largest initial public offering in U.S. history and help prop up the wobbly financial services industry.
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The world's largest processor of credit and debit cards sold 406 million shares at $44 a piece to easily eclipse the previous U.S. record IPO of $10.6 billion set by AT&T Wireless eight years ago.
The IPO price topped the range of $37 to $42 per share that Visa set three weeks ago just before its executives began meeting with institutional investors and analysts to drum up interest.
The Associated Press
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