Market Chatter: Fee Squeeze Intensifies for Banks Amid Fierce Hong Kong IPO Boom

MT Newswires Live12-11

Investment banks are set to collect their smallest share of underwriting fees from Hong Kong listings in decades, even as deal activity snaps back, Bloomberg News reported Thursday.

Companies listing in the city paid an average base fee of 1.5% this year, the lowest since at least 2000, according to the report, citing LSEG data.

The number may shift as several offerings are still to be priced in December.

The decline is driven by a surge in A-to-H secondary listings, which typically pay far less than traditional listings. These deals averaged base fees of 0.9% this year, compared with 2.2% for standard offerings, Bloomberg said.

Fee pressure has also reportedly intensified as banks compete aggressively for mandates after years of weak deal flow.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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