Global investment banks and brokerages leading SK Hynix’s mega share sale earned nearly $260 million in fees. This is a boost for the industry, which took in a relatively modest $500 million from SpaceX’s record share sale last month.
SK Hynix Share Sale Details
The fees equate to about 0.97% of the total amount raised, according to SK Hynix’s filings. This means bankers earned more as a percentage of deal size than those who worked on SpaceX’s initial public offering.
Citigroup earned over $70 million from the SK Hynix sale, which was 20% more than other banks on the deal. Bank of America, Goldman Sachs, and JPMorgan were also global co-ordinators.
South Korean chipmaker SK Hynix raised about $26.5 billion after pricing its U.S. stock at $149 per depository receipt, a 2.7% premium over its average share price in Seoul over the past three days.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
