February 26, 2008
Visa's Public Offering
Visa has announced plans for the single largest intial public offering in American history. It plans to sell $17.1 billion in stock in March. The announcement is both good and bad news, in a way. It is good news in that Visa, and its advisers, have given a strong vote of confidence on the condition of the stock markets. It is bad news in a way because the ratio of stock to debt in capital raising is a negative indicator of overall market health. When the market is sick, more companies have to raise money in stock offerings.
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