BA Merchant Services Inc. Registers for IPO.SAN FRANCISCO--(BUSINESS WIRE)--Oct. 11, 1996--BankAmerica Corporation announced today the filing of a registration statement with the Securities and Exchange Commission relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc a proposed initial public offering of Class A common stock by its newly formed subsidiary, BA Merchant Services BA Merchant Services, LLC is a wholly owned subsidiary of Bank of America specializing in handling credit, debit, stored value, and electronic benefits transfer (EBT) card transactions. , Inc. ("BAMSI BAMSI Brockton Area Multi Services Inc. BAMSI Bernard/Allison Management Services, Inc. "). BAMSI will provide an array of payment processing and related information products and services to merchants who accept credit, charge and debit cards as payment for goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . BankAmerica intends to contribute to BAMSI substantially all of the merchant services operations presently conducted by Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. NT&SA and Bank of America NW, N.A. upon receipt of the requisite regulatory approvals, expected later this year. BankAmerica also plans to include certain of its merchant card processing businesses in Asia in the newly formed company at a later date, subject to approval by local regulatory authorities. Goldman, Sachs & Co. will serve as lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. for the proposed offering. The amount and the price of the shares to be offered to the public have not yet been determined. Immediately following the offering, BankAmerica, as owner of 100 percent of BAMSI's Class B common stock, will retain a majority of both the economic and voting interests of the company. -0- A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. CONTACT: Bank of America Peter Magnani, 415/953-2418 |
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