MasterCard offers 61.52 million shares in its IPO

MasterCard offers 61.52 million shares in its IPO

MasterCard Inc. is the world’s second largest credit-card association and they are coming out with their IPO.

The company priced an initial public offering of stock worth about $2.4 billion on Wednesday. They are offering 61.52 million shares, which forms around 46 percent of the company. The shares are priced at $39, which is below the market expectation of $40 to $43.

This IPO is expected to help the company reduce its liability in the outstanding lawsuits accusing it of setting the fees merchants pay to banks at an artificially high level.

Market analysts also believe that this IPO might result in possible acquisition deals for the company as it look forward to growth and expanding their market share.

MasterCard shares would trade on the New York Stock Exchange under the symbol “MA”.