VISA IPO
Eu estou baseado na Suica e tenho acesso atraves do UBS que e um dos bancos participantes na colocacao do IPO.
Existem mais uma serie de bancos envolvidos, mas nenhum portugues.
Para quem esta baseado em Portugal nao sei a resposta.Mas imagino que o vosso Banco/corretor habitual saiba mais informacoes.
Abraco
Expat
Existem mais uma serie de bancos envolvidos, mas nenhum portugues.
Para quem esta baseado em Portugal nao sei a resposta.Mas imagino que o vosso Banco/corretor habitual saiba mais informacoes.
Abraco
Expat
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- Mensagens: 122
- Registado: 29/11/2007 2:58
- Localização: Surrey - UK
Quando e como se pode entrar neste papel? É só para americanos ou aberta aos tubarões do caldeirão? 
Se acreditam nos vícios de consumo da sociedade ocidental e no vício emergente dos mercados emergentes, não vejo onde estejam as dúvidas. Esta é daquelas que não devem fugir, até porque a procura deve ser tanta que é impossível não disparar só baseada na euforia e na procura.
Se acreditam nos vícios de consumo da sociedade ocidental e no vício emergente dos mercados emergentes, não vejo onde estejam as dúvidas. Esta é daquelas que não devem fugir, até porque a procura deve ser tanta que é impossível não disparar só baseada na euforia e na procura.
Cumprimentos
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- Mensagens: 252
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- Localização: bustos
Expat Escreveu:Definitivamente nao estou a entender como anexar um doc no post.
Quem quiser receber o doc do IPO me de o e-mail que terei o maior gosto em enviar.
Abraco
Expat
Expat, é necessário zipar o documento. Provavelmente estás a utilizar um formato que não é aceite pelo forum (.doc não é aceite por exemplo).
Existe também um limite para o tamanho do ficheiro que podes anexar (150KB).
FLOP - Fundamental Laws Of Profit
1. Mais vale perder um ganho que ganhar uma perda, a menos que se cumpra a Segunda Lei.
2. A expectativa de ganho deve superar a expectativa de perda, onde a expectativa mede a
__.amplitude média do ganho/perda contra a respectiva probabilidade.
3. A Primeira Lei não é mesmo necessária mas com Três Leis isto fica definitivamente mais giro.
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V
Visa
It is now fifty years since Visa’s origins as a Bank of America credit card unit, and it hopes to celebrate with the largest IPO in U.S. history. The long-anticipated deal, slated for mid-March, is expected to raise between $15 and $19 billion, easily beating the previous record held by AT&T Wireless’s $11 billion offering in 2000. As the world’s #1 brand in credit and debit cards, with its 16,600 financial institution customers having issued over 1.5 billion cards, the company hopes to use the recent reorganization and the IPO as a way to streamline global strategy and drive margin expansion. The deal is being underwritten by a team of 41 banks led by JPMorgan and Goldman Sachs, and if it proves successful, it may be a welcome spark that can help revive the recently soft IPO market. The stock will trade under the ticker “V” on the NYSE.
Life takes Visa, Visa takes fees
Visa does not itself issue credit or debit cards and does not take on consumer credit risk. Rather, banks like JPMorgan Chase and Bank of America issue its cards and it receives fees for its role in processing everyday transactions. Visa generates revenue both based on the number of transactions it processes and the dollar amount of purchases made on its credit and debit cards. Thus, although it is dependent on the level of consumer spending, it is not directly exposed to credit risk.
Paper or plastic?
Visa benefits from consumers’ continuing shift away from paper-based payment (cash and check) to electronic payment, predominantly credit and debit. Credit and debit have increased from 13% of payment volume in 2001 to 27% in 2006, and the company expects this trend to continue, especially as consumers have begun to use cards for everyday purchases such as gas and groceries in addition to larger-ticket items. Visa also benefits from international growth, especially in emerging markets such as Asia and Latin America, both because of the general increase in consumer spending in these regions and because of the relative infancy of credit and debit cards. With its 59% share of the global retail electronic payments market, Visa is well positioned to profit from these trends.
Same brand, new look
Until late last year, Visa consisted of several regional companies, each owned by its financial institution customers. As part of a mass reorganization, in October it combined these companies into one global entity (although its European operations remain independent because of regulation issues), which it believes will help it streamline its operations, focus on global strategy, and drive margin expansion through efficiencies of scale. The IPO will put 52% of the company’s shares in the hands of the public, marking a decisive move away from being customer-owned.
Legal paperwork
The credit card industry is a highly litigious one, and Visa currently faces tens of billions of dollars in claims. While the company has been structured so that the existing shareholders of the company bear all of the risk related to the major antitrust suit, thus protecting investors who buy on the IPO, there are several other potentially material lawsuits pending, that public shareholders are not protected from. Related to the litigation issue is the fact that changes in regulation could hurt Visa’s business. Other key risks to the Visa story are that Visa’s top five customers are 22% of revenue and that most of its customer relationships are non-exclusive, meaning its customers can also issue cards bearing MasterCard, American Express, or Discover brands. Finally, it faces the possibility of a recession severely hitting consumer spending, which would take a toll on its financial results.
Outlook
Visa appears to be coming to market at a sizeable discount to MasterCard based on forward P/E, which may be because the banks that are receiving most of the proceeds are strapped for cash and are pricing the deal to sell. MasterCard’s has shot up almost 400% since its May 2006 IPO, and its performance has certainly generated investor excitement about the Visa IPO. Although general market conditions have been weak since the beginning of the year amid fears of recession, and the IPO market in particular has been soft, and although the sheer size of the deal could limit a dramatic first day pop, Visa’s brand name status and attractive valuation should support a successful debut.
Fonte: Renaissance Capital's IPOhome.com
Expat
Visa
It is now fifty years since Visa’s origins as a Bank of America credit card unit, and it hopes to celebrate with the largest IPO in U.S. history. The long-anticipated deal, slated for mid-March, is expected to raise between $15 and $19 billion, easily beating the previous record held by AT&T Wireless’s $11 billion offering in 2000. As the world’s #1 brand in credit and debit cards, with its 16,600 financial institution customers having issued over 1.5 billion cards, the company hopes to use the recent reorganization and the IPO as a way to streamline global strategy and drive margin expansion. The deal is being underwritten by a team of 41 banks led by JPMorgan and Goldman Sachs, and if it proves successful, it may be a welcome spark that can help revive the recently soft IPO market. The stock will trade under the ticker “V” on the NYSE.
Life takes Visa, Visa takes fees
Visa does not itself issue credit or debit cards and does not take on consumer credit risk. Rather, banks like JPMorgan Chase and Bank of America issue its cards and it receives fees for its role in processing everyday transactions. Visa generates revenue both based on the number of transactions it processes and the dollar amount of purchases made on its credit and debit cards. Thus, although it is dependent on the level of consumer spending, it is not directly exposed to credit risk.
Paper or plastic?
Visa benefits from consumers’ continuing shift away from paper-based payment (cash and check) to electronic payment, predominantly credit and debit. Credit and debit have increased from 13% of payment volume in 2001 to 27% in 2006, and the company expects this trend to continue, especially as consumers have begun to use cards for everyday purchases such as gas and groceries in addition to larger-ticket items. Visa also benefits from international growth, especially in emerging markets such as Asia and Latin America, both because of the general increase in consumer spending in these regions and because of the relative infancy of credit and debit cards. With its 59% share of the global retail electronic payments market, Visa is well positioned to profit from these trends.
Same brand, new look
Until late last year, Visa consisted of several regional companies, each owned by its financial institution customers. As part of a mass reorganization, in October it combined these companies into one global entity (although its European operations remain independent because of regulation issues), which it believes will help it streamline its operations, focus on global strategy, and drive margin expansion through efficiencies of scale. The IPO will put 52% of the company’s shares in the hands of the public, marking a decisive move away from being customer-owned.
Legal paperwork
The credit card industry is a highly litigious one, and Visa currently faces tens of billions of dollars in claims. While the company has been structured so that the existing shareholders of the company bear all of the risk related to the major antitrust suit, thus protecting investors who buy on the IPO, there are several other potentially material lawsuits pending, that public shareholders are not protected from. Related to the litigation issue is the fact that changes in regulation could hurt Visa’s business. Other key risks to the Visa story are that Visa’s top five customers are 22% of revenue and that most of its customer relationships are non-exclusive, meaning its customers can also issue cards bearing MasterCard, American Express, or Discover brands. Finally, it faces the possibility of a recession severely hitting consumer spending, which would take a toll on its financial results.
Outlook
Visa appears to be coming to market at a sizeable discount to MasterCard based on forward P/E, which may be because the banks that are receiving most of the proceeds are strapped for cash and are pricing the deal to sell. MasterCard’s has shot up almost 400% since its May 2006 IPO, and its performance has certainly generated investor excitement about the Visa IPO. Although general market conditions have been weak since the beginning of the year amid fears of recession, and the IPO market in particular has been soft, and although the sheer size of the deal could limit a dramatic first day pop, Visa’s brand name status and attractive valuation should support a successful debut.
Fonte: Renaissance Capital's IPOhome.com
Expat
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- Mensagens: 122
- Registado: 29/11/2007 2:58
- Localização: Surrey - UK
A do Mastercard foi melhor que poços de petróleo.
Ainda me lembro de ver na CNBC os analistas a dizer que a acção não valia o valor do IPO.
Beste momento tou como bancos (falta liquidez)...
Se não ia, mas depende do preço do IPO.
Expat podes indicar a informação que tens dobre o IPO?
Ainda me lembro de ver na CNBC os analistas a dizer que a acção não valia o valor do IPO.
Beste momento tou como bancos (falta liquidez)...
Se não ia, mas depende do preço do IPO.
Expat podes indicar a informação que tens dobre o IPO?
- Mensagens: 123
- Registado: 12/1/2008 22:04
- Localização: 14
VISA IPO
O IPO da VISA esta no mercado.
Acabei de receber do meu banco o doc. de apresentacao.
Sendo a joia da coroa dos bancos que a suportam, parece-me que so a vao vender porque estao aflitos de dinheiro e uns bilioes de USD de encaixe sao muitissimo bem vindos em 2008.
Ja tive oportunidade de trabalhar com a VISA e sei as margens que tem e o modo como dominam o mercado.E assim sera por muitos mais anos.
Depois existe ainda a valorizacao de 400% da Mastercard nos ultimos 2 anos.
Gostava de ouvir as opinioes do Caldeirao
Abraco a todos
Expat
Acabei de receber do meu banco o doc. de apresentacao.
Sendo a joia da coroa dos bancos que a suportam, parece-me que so a vao vender porque estao aflitos de dinheiro e uns bilioes de USD de encaixe sao muitissimo bem vindos em 2008.
Ja tive oportunidade de trabalhar com a VISA e sei as margens que tem e o modo como dominam o mercado.E assim sera por muitos mais anos.
Depois existe ainda a valorizacao de 400% da Mastercard nos ultimos 2 anos.
Gostava de ouvir as opinioes do Caldeirao
Abraco a todos
Expat
-
- Mensagens: 122
- Registado: 29/11/2007 2:58
- Localização: Surrey - UK
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