The San Francisco-based company's much-anticipated initial public offering raised $17.9 billion, making it the largest on record. The credit-card network sold 406.0 million class A common shares for $44 a share on Tuesday, surpassing expectations for a price range of $37 to $42 a share, according to Securities and Exchange Commission filings.

Underwriters of the deal, including JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup, HSBC, Merrill Lynch, UBS and Wachovia, have the option to buy an additional 40.6 million shares. (See: Can Visa Get The Street Unstuck?) If the underwriters exercise those options, the IPO will end up raising $19.7 billion.