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[size=36]The flurry of selling shares of Alibaba and Aramco fail to bring a surprise to bank fees[/size]
Economy | 02:39 - 21/11/2019
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Affiliate - Mawazine News
A late-year spree of global giant stock sales, led by a $ 13 billion listing of Alibaba in Hong Kong and Aramco's $ 26 billion IPO, failed to provide a corresponding fee to stock market bankers.
Disclosures on Thursday revealed that 17 banks would charge up to $ 32.3 million in the Alibaba Group deal in Hong Kong, which would raise the Chinese e-commerce giant up to $ 12.9 billion.
Earlier this week, sources told Reuters that banks operating on Saudi Aramco's IPO will receive a fee of 0.35 percent of the amount raised, which means that when the company reaches the ceiling of the pricing range, raising $ 25.6 billion, the fee will be $ 90 million. .
The figures are fading compared to the $ 300 million that banks made from a record $ 25 billion initial public offering to Alibaba itself in 2014. The record fee payment was $ 550 million obtained by banks at the New York Visa listing of $ 19.6 billion in 2008.
Usually Capital market activity accounts for about a quarter of global investment banking fees, but capital raising in 2019 is at its slowest level since 2012, as a series of backtracked deals and inefficient placements overshadowed sentiment, even as many Indices are record highs.
Globally, Refinitiv data indicates that companies have sold shares worth $ 574.7 billion since the beginning of this year, 19.7 percent below levels in the same period last year. These figures include Alibaba but do not include Aramco, whose deal has not yet been priced.
In order to price Aramco's IPO, Alibaba is the world's largest stock market deal this year, outperforming the $ 8.1 billion Uber IPO in New York that raised $ 106 million in bank fees.
Disclosures on Thursday revealed that 17 banks would charge up to $ 32.3 million in the Alibaba Group deal in Hong Kong, which would raise the Chinese e-commerce giant up to $ 12.9 billion.
Earlier this week, sources told Reuters that banks operating on Saudi Aramco's IPO will receive a fee of 0.35 percent of the amount raised, which means that when the company reaches the ceiling of the pricing range, raising $ 25.6 billion, the fee will be $ 90 million. .
The figures are fading compared to the $ 300 million that banks made from a record $ 25 billion initial public offering to Alibaba itself in 2014. The record fee payment was $ 550 million obtained by banks at the New York Visa listing of $ 19.6 billion in 2008.
Usually Capital market activity accounts for about a quarter of global investment banking fees, but capital raising in 2019 is at its slowest level since 2012, as a series of backtracked deals and inefficient placements overshadowed sentiment, even as many Indices are record highs.
Globally, Refinitiv data indicates that companies have sold shares worth $ 574.7 billion since the beginning of this year, 19.7 percent below levels in the same period last year. These figures include Alibaba but do not include Aramco, whose deal has not yet been priced.
In order to price Aramco's IPO, Alibaba is the world's largest stock market deal this year, outperforming the $ 8.1 billion Uber IPO in New York that raised $ 106 million in bank fees.
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