Banks would be big winners in Visa IPO
March 14 (Reuters) - Following is a list of Visa Inc's largest shareholders, and the proceeds they are expected to see from the credit card processor's initial public offering planned for next week.
In the eagerly awaited offering, Visa planned to sell 406 million Class A shares at $37 to $42 each, for proceeds of $15 billion to $17 billion, according to a regulatory filing last month.
Of that, Visa's member banks, stemming from a previous membership-based ownership structure, would be the biggest beneficiaries, with total proceeds of about $10.2 billion, Visa said in an amended registration statement.
* JP Morgan Chase & Co (JPM.N: Quote, Profile, Research), selling roughly 28.7 million shares for proceeds of as much as about $1.2 billion.
* Bank of America Corp (BAC.N: Quote, Profile, Research), selling roughly 14.3 million shares for proceeds of as much as about $600 million.
* National City Corp (NCC.N: Quote, Profile, Research), selling roughly 9.9 million shares for proceeds of as much as about $416 million.
* Citigroup Inc (C.N: Quote, Profile, Research), selling roughly 6.9 million shares for proceeds of as much as about $290 million.
* U.S. Bancorp (USB.N: Quote, Profile, Research), selling roughly 6.2 million shares for proceeds of as much as about $260 million.
* Wells Fargo & Co (WFC.N: Quote, Profile, Research), selling roughly 6.2 million shares for proceeds of as much as about $260 million.
** Source: Visa Inc amended registration statement with the U.S. Securities and Exchange Commission, with proceeds calculated based on an IPO price of $42 per share. (Reporting by Lilla Zuill, editing by Gerald E. McCormick)
