MasterCard prices IPO of Class A common stock
MasterCard announced its initial public offering (IPO) of 61,520,912 shares of its Class A common stock has been priced at $39.00 per share.
<p>The shares begin trading on May 25, 2006 on the New York Stock Exchange under the trading symbol 'MA'. The company will retain $650 million of the proceeds of the sale, with the remainder being used to redeem shares held by current shareholders. <br /><br />“Listing on the NYSE marks a major milestone for MasterCard and reinforces our commitment to continued growth and building value for our customers and stockholders,†said Robert Selander, MasterCard's president and chief executive officer. <br /><br />Goldman Sachs is the global coordinator and one of four joint book-runners for the offering, together with Citigroup Global Markets, HSBC Securities (USA), and JP Morgan Securities. <br /><br />MasterCard has granted the underwriters of the offering an option to purchase up to 4,614,077 additional shares within 30 days to cover over-allotments. <br /></p>
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