MasterCard Going Public
MasterCard Incorporated announced yesterday its intention to change its ownership structure and become a publicly-traded company. Currently an association of over 1400 financial institutions worldwide, the new structure would give the current pool of owners 41% of the company, while 49% would be publicly-owned shares, and 10% will be held by a newly-established charitable foundation. The move was seen in many circles as a way for MasterCard to raise money that would finance a strong push to compete with Visa. MasterCard did not specify when the Initial Public Offering might take place. UPDATE: See February 17, 2006 article, MasterCard Postpones IPO for more information.
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