Finextra: VisaNet IPO totals $4.3m
VisaNet IPO totals $4.3m
Visa's Brazilian affiliate VisaNet is raising around $4.3 billion in its initial public offering, the biggest in the world for over a year.
The Sao Paulo-based credit card company's shareholders - including Visa, Banco Bradesco, Banco do Brasil and Banco Santander - sold 559.81 million shares at a price of 15 reais each.
Book-building in the IPO closed out yesterday with shares set to begin trading on the Brazilian Stock Exchange on Monday.
According to a Reuters report, on Wednesday 19 brokerages were banned from participating in the IPO for allegedly releasing unapproved advertising material about the sale.
VisaNet was the first Brazilian IPO of the year and the country's biggest ever.
