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Friday, September 16, 2005
MasterCard Inc, the world second-largest credit card issuer, said it can raise up to $2.45 billion issuing 61.5 million shares in an initial public offering on NYSE. The company is to offer outside investors 49% of its shares, covering 83% of voting rights. It is expected to trade on the market under the symbol "MA".
Purchase, NY-based MasterCard is currently owned by some 1,400 banks that issue company-branded credit and debit cards, now 716 million worldwide, which makes the issuer second only to Visa.
MasterCard earned $213.5 million on revenue of $1.4 billion in the first half of 2005. The company's strongest NYSE-traded rival, American Express, trades at $57.34 a share now.
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
