Wall Street banks’ IPO fees could come under pressure from mainland rivals if Beijing forces tech firms to list in Hong Kong

//Wall Street banks’ IPO fees could come under pressure from mainland rivals if Beijing forces tech firms to list in Hong Kong

Wall Street banks’ IPO fees could come under pressure from mainland rivals if Beijing forces tech firms to list in Hong Kong

Some of Wall Street’s biggest banks could potentially lose hundreds of millions of dollars in lucrative investment banking fees if China’s new rules on foreign listings force tech unicorns to list closer to home in Hong Kong, according to deal makers and analysts.A half-dozen American banks, including Citigroup, Goldman Sachs and JPMorgan Chase, as well as Swiss banking giants Credit Suisse and UBS, split more than US$350 million in fees as Chinese companies raised an eye-popping US$12.5…

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By | 2021-07-15T15:30:18+00:00 July 15th, 2021|Business|Comments Off on Wall Street banks’ IPO fees could come under pressure from mainland rivals if Beijing forces tech firms to list in Hong Kong