Visa Files Registration Notice for $10 billion IPO

In a bid to duplicate the success of its main rival, Visa filed documents late Friday officially signaling to the SEC its intentions to go public.

San Francisco-based Visa, owner of the largest credit card network in the nation, said in a U.S. Securities and Exchange Commission registration statement that the IPO could fetch up to $10 billion, putting it in the Top 10 of all-time public offerings, according to Dealogic. Visa cautioned in the filing, however, that the $10 billion figure was preliminary and was used to calculate the registration fee to the SEC.