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Visa operates the world’s largest retail electronic payments network and manages the world’s most recognized

global financial services brand. We have more branded credit and debit cards in circulation, more transactions and greater total volume than any of our competitors. We facilitate global commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses and government entities. We provide financial institutions, our primary customers, with product platforms encompassing consumer credit, debit, prepaid and commercial payments. VisaNet, our secure, centralized, global processing platform, enables us to provide financial institutions and merchants with a wide range of product platforms, transaction processing and related value-added services. Based on the size of our network, the strength of the Visa brand and the breadth and depth of our products and services, we believe we are the leading electronic payments company in the world.

Chief executive:
Joseph W. saunders

Initial public offering of VISA
History:
VISA has five companies serving different regions of the world. VISA USA, VISA Canada, Visa international, VISA Europe and Inovant. On October 11, 2006, Visa announced that some of its businesses would be merged and became publicaly traded company, Visa Inc. Under the IPO restructuring, Visa Canada, Visa International, and Visa U.S.A. were merged into the new public company. Visa's Western Europe operation became a separate company, owned by its member banks who will also have a minority stake in Visa Inc. On October 3 2007 VISA completed its merging with the formation of VISA Inc.

Filing with new York stock exchange:
On November 9 2007 VISA Inc. submitted its $10 billion filing with NYSE.

Underwriters

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Goldman Sachs & Co

JP Morgan

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Banc of America Securities LLC

Cities

HSBC

Merrill Lynch & Co

UBS Investment Bank

Wachovia Securities

. Four minority-owned firms — Gardner Rich & Company, Guzman & Company, the Williams Capital Group and Utendahl Capital Partners — are listed as underwriters, though they are clustered at the bottom. They are smaller than most of the firms above them, ranging from Citigroup to Mitsubishi UFJ Securities to Fox-Pitt Kelton. Other 35 underwriters were also involve in ipo.

Commission to underwriters:
Underwriter had charged as much as 7% in fees for IPO.

Announcement of IPO:
On February 25, 2008, Visa announced it would go ahead with an IPO of half its shares. At the same date VISA went through filing with SEC with reg # 333-147296

Date of IPO:
Ipo of VISA took place on March 18 2008,tuesday.

Shares offered in IPO:
VISA offered 406 million shares in its ipo.

Roadshows:

The high profile Visa global roadshow involved three teams travelling across three continents visiting 11 countries and 27 cities. In addition, Visa wanted a lasting memory of the roadshow that could be used as a showpiece for their listing dinner. Our dedicated team worked around the clock to plan, organise and execute all aspects with regards to this roadshow and its co-ordination. We produced 36 group investor meetings across the US, Europe, the Middle East and Asia, with over 1,700 investors in attendance, including nearly 700 attendees at the New York lunch alone. In addition, our team captured video footage on the road to develop into a memorable film for the management team and shown at the closing dinner.

Institutional investor:
JP Morgan was the largest investor of VISA by purchasing 29 million shares of VISA.

Bidding for per share price:
The bidding for per share price range from $37 to $ 42

Price set for share:
The price set by underwritters after book building and analyzing company’s and market condition was $44 per share. "They priced the deal above the proposed range because there was lots of demand," said Nicholas Einhorn, an analyst with Renaissance Capital

Capital raised after selling of shares:
VISA raised its capital of US$17.9billion. it was the largest initial public offering in USA.

Additional shares to underwriters:
On March 20 2008, thursday under writers(including JP Morgan, Goldman Sachs & Co., Banc of America Securities LLC, Citi, HSBC, Merrill Lynch & Co., UBS Investment Bank and Wachovia Securities) exercised their overallotment option, purchasing an additional 40.6 million shares, bringing Visa's total IPO share count to 446.6 million, and bringing the total proceeds to US$19.1 billion.

# of shares trade in secondary market:
At the first day of secondary trade only 19million shares were trade.

Shares trade in secondary market:
After its ipo on march 18 2008, Wednesday its first share trade in secondary market. Kon estimated Visa shares are worth $74 per share, given the size of the company's business, its market position and its growth prospects. Visa shares closed Wednesday at $56.50, up $12.50 from the $44 IPO price. The gain on first day was 28%. They had risen above $60 before settling in the afternoon. Volume was heavy, with more than 175 million shares changing hands.

Symbol of VISA under NYCE:
Visa now trade under the ticker symbol of “V”on newyork stock exchange.