A.steve Posted February 25, 2008 Share Posted February 25, 2008 http://uk.reuters.com/article/businessNews...0080225?sp=true Quote Link to comment Share on other sites More sharing options...
huw Posted February 25, 2008 Share Posted February 25, 2008 http://uk.reuters.com/article/businessNews...0080225?sp=true From the Guardian's coverage: The company plans to offer 446.6m shares at between $37 and $42 a share. At the top end of that proposed range the company would raise $18.75bn for the banks - including JP Morgan Chase, Bank of America and Citigroup - which own it. A strange time for such an IPO I would have thought -- unless they were truly desperate for capital Quote Link to comment Share on other sites More sharing options...
symo Posted February 25, 2008 Share Posted February 25, 2008 From the Guardian's coverage:A strange time for such an IPO I would have thought -- unless they were truly desperate for capital Hmmmm lets see have they announced profits above expectations recently? If they have then the shares will be worth about $10 max, If they have not then expect the shares to drop on news of write downs. Either way not worth owning stocks that rely on debts people can just go bankrupt for. Quote Link to comment Share on other sites More sharing options...
ParticleMan Posted February 25, 2008 Share Posted February 25, 2008 Either way not worth owning stocks that rely on debts people can just go bankrupt for. Unless they can work out a way to stream porn or spam across their network during the quiet times. Quote Link to comment Share on other sites More sharing options...
mon-keyhanger Posted February 25, 2008 Share Posted February 25, 2008 Didn't Lloyds TSB dump VISA a few months back? Did any other major players dump it as well? Quote Link to comment Share on other sites More sharing options...
Optobear Posted February 25, 2008 Share Posted February 25, 2008 From the Guardian's coverage:A strange time for such an IPO I would have thought -- unless they were truly desperate for capital Interesting. VISA is owned by the banks collectively, and presumably the pay-out will be in proportion. When it floats and raises $16bn it ought to reduce the market caps of each of the banks proportionately. After all, the business is the same, the income ought to be the same, except that now profits from VISA will go to shareholders in VISA not to shareholders in the banks, thus the bank shares should reduce by the same amount! I suspect that the vagaries of the stock market will make sure that doesn't happen, and everyone will be convinced they are getting something for free. It seems to me a way for the major banks to acquire some additional capital without direct recourse to making embarrassing rights issues. Instead of good news, it ought to be seen as a sign of the vulnerability of the banking system. Quote Link to comment Share on other sites More sharing options...
DabHand Posted February 25, 2008 Share Posted February 25, 2008 Absolutely. Proles don't get access to alpha, especially from IBs. What proles do make is a good bigger fool, patsy, mug etc... I expect this is partly to get some easy cash right now from the punters, and secondly to spread the love of VISA crapping itself within 12 months from mass defaults on unsecured lending. Quote Link to comment Share on other sites More sharing options...
yellerkat Posted February 25, 2008 Share Posted February 25, 2008 Didn't Lloyds TSB dump VISA a few months back? Did any other major players dump it as well? HBOS, too. Quote Link to comment Share on other sites More sharing options...
appletizzy Posted February 25, 2008 Share Posted February 25, 2008 HBOS, too. It wasn't so long ago that HBOS cancelled all their Mastercard and Switch cards and went over to Visa. Are they swapping back again then? Quote Link to comment Share on other sites More sharing options...
Optobear Posted March 2, 2008 Share Posted March 2, 2008 Absolutely. Proles don't get access to alpha, especially from IBs.What proles do make is a good bigger fool, patsy, mug etc... I expect this is partly to get some easy cash right now from the punters, and secondly to spread the love of VISA crapping itself within 12 months from mass defaults on unsecured lending. More on the VISA IPO. It seems that VISA don't hold any of the risk of the unsecured lending. That sits with the card issuing bank, not the visa system "Unlike industry Capital Ones (COF) and Discover Cards (DFS), Visa is a card processor, not a lender. That means it takes money from the banks that issue cards and doesn't extend credit. Smart move... It doesn't have to worry about cardholder debt. That concern lies with the banks that issue the cards. " From http://seekingalpha.com/article/66714-prof...-in-u-s-history So they really are selling off the family silver to raise capital. Talk about desperate. This is a symbol of just how bad the banking mess really is becoming. Quote Link to comment Share on other sites More sharing options...
vfr Posted March 2, 2008 Share Posted March 2, 2008 http://uk.reuters.com/article/businessNews...0080225?sp=true I think that this is quite a worrying developement given that if all was well there would be no reason for a sell of. Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted March 19, 2008 Share Posted March 19, 2008 http://www.bloomberg.com/apps/news?pid=206...rA&refer=us Goldfish posted operating losses of $87 million in 2006 and $205 million last year. U.K. credit card companies faced surging defaults after bankruptcy law changes, a reduction to late fees and a housing boom and bust, Sakhrani said.Visa Inc. and MasterCard Inc. operate networks without making loans to consumers. Visa completed a $17.9 billion initial public offering yesterday, a record for U.S. companies. Quote Link to comment Share on other sites More sharing options...
A.steve Posted March 19, 2008 Author Share Posted March 19, 2008 I guess enough are.... The share price will prove interesting, I guess. Any idea what the ticker symbol would/will be? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.