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Visa IPO Moved Up a Day!

Posted March 18, 2008

“The largest IPO in U.S. history will happen a day earlier than expected, meaning, as you read this on Tuesday, Visa could be pricing its shares.” — Stephanie Grimmett

by Stephanie Grimmett

Baltimore – (TFN):  Visa just moved up its IPO date.

The largest IPO in U.S. history will happen a day earlier than expected, meaning, as you read this on Tuesday, Visa could be pricing its shares. And those shares, which were supposed to begin selling on Thursday, will begin selling tomorrow.

Goldman Sachs, one of the IPO’s underwriters, announced the date change without explanation. And the other lead underwriter, JPMorgan Chase isn’t talking either.

JPMorgan is Visa’s largest shareholder, along with being an underwriter. And with an emergency buyout just announced for teetering Bear Stearns, JPMorgan may want to push through its $1.1 billion payoff from the Visa IPO a day earlier.

The proceeds of the IPO will easily cover Bear Stearns pitiful $236 million price tag (especially with the Fed lending $30 billion to back Bear Stearns and ensure that JPMorgan isn’t buying air, although, come to think of it, the ailing bank’s office space alone, may be worth more than that pathetic sale price).

But that’s pure speculation, and for all we know, the date move could come down to a schedule change for the peewee soccer tournament of some executive’s 8 year old.

What we do know is that Visa’s IPO is oversubscribed, a longed-for condition in this year’s persnickety IPO climate. The forboding and gloom hanging over the general IPO market haven’t dampened the giddy excitement generated by Visa’s sale. And shares will be scarce tomorrow, even if you did put your order in a month ago.

If you don’t think you’re going to snag any shares before the price runs up, we have a variety of options left open to you that will get you into Visa’s IPO profits, without having to resort to mugging a JP Morgan executive. Check them out now before Visa shares start selling.

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Posted by Stephanie Grimmett · Filed Under US Stocks and Markets 

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