IPO and restructuring[edit]

On October 11, 2006, Visa announced that some of its businesses would be merged and become
a publicly traded company, Visa Inc.[33][34][35] Under the IPO restructuring, Visa Canada, Visa
International, and Visa U.S.A. were merged into the new public company. Visa's Western Europe
operation became a separate company, owned by its member banks who will also have a minority
stake in Visa Inc.[36] In total, more than 35 investment banks participated in the deal in several
capacities, most notably as underwriters.
On October 3, 2007, Visa completed its corporate restructuring with the formation of Visa Inc. The
new company was the first step towards Visa's IPO.[37] The second step came on November 9, 2007,
when the new Visa Inc. submitted its $10 billion IPO filing with the U.S. Securities and Exchange
Commission (SEC).[38] On February 25, 2008, Visa announced it would go ahead with an IPO of half
its shares.[39] The IPO took place on March 18, 2008. Visa sold 406 million shares at US$44 per
share ($2 above the high end of the expected $37–42 pricing range), raising US$17.9 billion in the
largest initial public offering in U.S. history.[40] On March 20, 2008, the IPO underwriters (including JP
Morgan, Goldman Sachs & Co., Banc of America Securities LLC, Citi, HSBC, Merrill Lynch & Co.,
UBS Investment Bank and Wachovia Securities) exercised their overallotment option, purchasing an
additional 40.6 million shares, bringing Visa's total IPO share count to 446.6 million, and bringing the
total proceeds to US$19.1 billion.[41] Visa now trades under the ticker symbol "V" on the New York
Stock Exchange.[42]

Visa Europe[edit]
Visa Europe Ltd. was a membership association and cooperative of over 3,700 European banks and
other payment service providers[43] that operated Visa branded products and services within Europe.
Visa Europe was an entirely separate company to Visa Inc. having gained independence of Visa
International Service Association in October 2007 when Visa Inc. became a publicly traded
company on the Ne