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Play your cards right; Visa announces a $19 billion initial public offering; A $19 billion IPO for Visa.

Global Agenda

| February 25, 2008 | COPYRIGHT 2003 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Visa plans a $19 billion initial public offering

WHEN markets are rocky and the economy is wobbling is it a good idea to splash out on a credit card? Visa, the world's leading credit-card operator, certainly thinks so. On Monday February 25th Visa said that it would soon go ahead with an initial public offering (IPO) of around half of its shares, which might raise as much as $18.8 billion. Given the dark mood at most of America's leading financial institutions what has motivated Visa to embark upon what would be, by a comfortable margin, America's biggest IPO?

In October 2006 Visa took the decision to float its businesses outside Europe (within that continent…

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