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Member Banks See Windfall in Visa IPO
03/14/08 - 06:59 AM EDT
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The top eight underwriters -- JPMorgan Chase, Goldman SachsGS, BofA, Citi, HSBC, Merrill LynchMER, UBS and WachoviaWB -- will receive the lion's share of the fees. Fees could be roughly $480 million if shares trade at the midpoint price of $39.50. Visa is currently estimating a 3% fee, according to the prospectus. "It's not the best time to go public with what's happening in the market, but MasterCard's stock has been holding up pretty well compared to some of the other financial services companies and that's basically at the end of the day [Visa's] No. 1 benchmark," Kon says. "It has a more positive event for the market itself because it definitely might change some of the mood in the IPO market."
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