Visa aims for $10 billion in stock offering
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From Times Wire Services
Visa, the biggest U.S. credit card network, plans to raise $10 billion in an initial public offering.
Visa said it would deposit a portion of the company’s proceeds into an escrow account to pay settlements or judgments related to litigation.
The offering is expected to be the biggest of the year. Visa is following in the footsteps of rival MasterCard, which has more than quadrupled in market value since it went public in May.
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