http://biz.yahoo.com/rb/071109/visa_ipo.html?.v=1
Visa is own by a group of well-known banks. JPM and BAC together own 34.8% of Visa. Citigroup, Wells Fargo, US Bancorp and National City own another 24% of Visa.
Now, this chart is a very rough comp. b/w Mastercard and Visa. We know that Mastercard IPO was a success. Mastercard stock went up 5x since its IPO. The problem with this chart is that I'm not sure if Visa is selling out all of its shares to public, which they value at $10 bil. Or if it's selling ~40% stake (60% own by the rest of the banks). If Visa is selling 40% stake and valued the stake at $10 bil. , then it would fetch a $25 bil. market cap. That is in-line with Mastercard's current market cap.Assuming that Visa fetch the same price/market cap as Mastercard, then its IPO is NOT worth buying into. Even though Visa has a bigger share of the market, it fails to bring its top-line to its bottom-line. The lower net income margin is causing Visa to earn about the same amount as Mastercard (not looking too deep into the quality of the earnings). Visa has also agreed to settle a lawsuit recently- which would cost Visa ~$2 billion dollars. On the surface, Visa looks attractive because of Mastercard's previous success. However, Mastercard's successful IPO launch was due to the fact that it was vastly underpriced. But that is not the case for Visa (unless $10 bil it plans to raise = 100% stake, which I highly doubt at the moment).
However much I love IPOs. Visa is a no-go for me.
4 comments:
Hi !.
You may , perhaps very interested to know how one can collect a huge starting capital .
There is no need to invest much at first. You may commense to receive yields with as small sum of money as 20-100 dollars.
AimTrust is what you thought of all the time
AimTrust represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your choice That`s what you wish in the long run!
I`m happy and lucky, I started to take up real money with the help of this company,
and I invite you to do the same. It`s all about how to choose a correct partner who uses your money in a right way - that`s the AimTrust!.
I take now up to 2G every day, and what I started with was a funny sum of 500 bucks!
It`s easy to start , just click this link http://oraqevolyn.arcadepages.com/ukucorof.html
and lucky you`re! Let`s take this option together to get rid of nastiness of the life
Hello !.
You re, I guess , perhaps curious to know how one can manage to receive high yields .
There is no need to invest much at first. You may commense earning with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with offices everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your chance That`s what you desire!
I feel good, I started to take up income with the help of this company,
and I invite you to do the same. If it gets down to select a correct companion utilizes your money in a right way - that`s it!.
I take now up to 2G every day, and what I started with was a funny sum of 500 bucks!
It`s easy to join , just click this link http://juvoninocy.dreamstation.com/ewybysi.html
and lucky you`re! Let`s take this option together to get rid of nastiness of the life
Hi!
You may probably be very interested to know how one can make real money on investments.
There is no initial capital needed.
You may commense earning with a sum that usually goes
on daily food, that's 20-100 dollars.
I have been participating in one project for several years,
and I'm ready to let you know my secrets at my blog.
Please visit blog and send me private message to get the info.
P.S. I make 1000-2000 per day now.
http://theblogmoney.com
Good day, sun shines!
There have were times of troubles when I felt unhappy missing knowledge about opportunities of getting high yields on investments. I was a dump and downright pessimistic person.
I have never imagined that there weren't any need in large initial investment.
Nowadays, I feel good, I begin to get real money.
It's all about how to choose a proper companion who uses your money in a right way - that is incorporate it in real deals, and shares the income with me.
You may get interested, if there are such firms? I have to tell the truth, YES, there are. Please get to know about one of them:
http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]
Post a Comment