CBA says Visa IPO to deliver A$355 mln pre-tax gain

SYDNEY, March 25 (Reuters) - Commonwealth Bank of Australia Ltd (CBA.AX: Quote, Profile, Research), Australia's second-biggest lender, said on Tuesday it expects a pre-tax gain of A$355 million ($323 million) from the sale of 51 percent of its stake in Visa, which has listed in the United States.

The gain will be treated as a significant item in CBA's fiscal 2008 earnings. ($1=A$1.10) (Reporting by Denny Thomas;)