* IPO raises 8.4 bln reais, Brazil's biggest-ever
* Shareholders sell 559.8 mln shares at top of price range (Adds details of offering, background)
SAO PAULO, June 25 (Reuters) - VisaNet, the Brazilian
affiliate of credit card network Visa Inc
VisaNet said shareholders -- including Banco Bradesco
The shareholders initially planned to sell 477.67 million shares, but underwriters exercised their option to sell additional shares to meet demand, making the IPO among the biggest in the world the past year.
VisaNet
Bradesco BBI, the investment banking arm of Bradesco, managed the offering.
Bradesco on Wednesday banned 19 brokerages, including its own Bradesco SA Corretora and Agora, from participating in the massive IPO because the firms allegedly had released unapproved advertising material about the sale.
Before the IPO, Bradesco held a 39 percent stake in VisaNet; Banco do Brasil, a 31 percent interest; and Spain's Santander, a 14 percent stake. After the IPO, the three banks still controlled a majority of VisaNet's shares.
Visa Inc unit Visa International was also part of the controlling group but reduced its 10 percent stake to zero.
Brazil's largest private sector bank, Itau Unibanco