Mastercard (MA) Lower Following Data On Upcoming Visa IPO
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Shares of Mastercard (NYSE: MA) are under pressure today in response to data about the upcoming mega-IPO of rival Visa (NYSE: V).
In an amended IPO filing with the SEC today, Visa revealed it will look to sell 406 million shares at a price between $37-$42 per share. Two i-bank heavyweights, JPMorgan and Goldman Sachs, are leading the massive offering.
Shares of Mastercard are off the lows of the day, but still down 2.5% on the session. Some investors could exit positions in Mastercard to grab a stake in the Visa IPO. While this may only amount to a few investors, the fear that it could happen has others selling and asking questions later.
In an amended IPO filing with the SEC today, Visa revealed it will look to sell 406 million shares at a price between $37-$42 per share. Two i-bank heavyweights, JPMorgan and Goldman Sachs, are leading the massive offering.
Shares of Mastercard are off the lows of the day, but still down 2.5% on the session. Some investors could exit positions in Mastercard to grab a stake in the Visa IPO. While this may only amount to a few investors, the fear that it could happen has others selling and asking questions later.
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