Master card has decided to delay its Initial Public Offer (IPO) to the second quarter of the year as the company’s CEO, Bob Selander is recovering from a prostrate cancer surgery. The CEO’s condition makes it difficult for him to undertake the much needed promotion before the IPO.
MasterCard is the second largest credit card brand in the US and through its IPO it plans to raise about $2.5 billion on the NYSE. The IPO is expected to the largest after Internet search leader, Google’s IPO in 2004.
Other reasons being cited for the delay include Visa facing a interchange lawsuit and MasterCard’s plan on the MasterCard Foundation, which experts believe to be a tactic to thwart efficient governance. The outcome of Visa’s interchange lawsuit can have repercussions for MasterCard that can impact its IPO.
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