MasterCard’s gigantic initial public offering (IPO), expected to raise $2.45bn, could significantly change the stakes for payment card companies. With non-banking organisations wanting a piece of the payments action, the IPO, expected to take place this month, could have implications beyond the banking industry.
The IPO on the New York Stock Exchange sees the appointment of a new board of directors composed of a majority of independent directors. MasterCard shareholders will also give up 59% of the company with 49% of this being floated and 10% going to a charitable foundation, which will be given 18% of the voting rights.
