Barclays Bank is set to receive $200 million as a result of Visa International's decision to float on the stock exchange, according to a report in the online edition of the Guardian newspaper.
The report suggests that Barclays will profit from its estimated 1% stake in Visa, with analysts predicting that the company may be valued at approximately $20 billion on its listing.
Visa is a private, membership association jointly owned by more than 21,000 member financial institutions around the world. Through its global network and merchant associations, the company provides card acceptance facilities in more than 160 countries.
The firm recorded revenues of $1.16 billion during the fiscal year ended September 2005, a decrease of 18.5% from 2004. However, net profit increased to $83 million in year 2005, compared to $32 million in 2004.