Reply #9: Visa IPO could be largest in US history

[ozymandius]

NEW YORK - Stocks are shaky, credit is tight, the economy may be tipping into a recession. Not the best of times to be going to the markets for what could be the largest initial public offering in U.S. history.

That's the gamble Visa is taking as it gave details Monday about an IPO that could raise up to nearly $19 billion: If it works, it could be an encouraging sign to the stock markets and may even help loosen the credit knot.

While Visa's IPO will have little direct effect on its cardholders, the banks that issue Visa cards are expected to see a total windfall of more than $10 billion — which might keep them from pulling back credit lines further and pushing rates higher.

http://news.yahoo.com/s/ap/20080225/ap_on_bi_ge/visa_ipo