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Visa raises $17.9 bn in initial public offer(IPO)

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The world’s largest credit card network, Visa Inc, has raised a record $17.9 billion in an initial public offer(IPO), the second largest IPO ever in the US.

Underwriters sold 406 million class A common stock for $44 per share, above an expected range of $37 to $42. Visa’s $17.9 billion issue could be No. 2 largest IPO after Industrial & Commercial Bank of China Ltd raised $22 billion in 2006.