Key facts
- SK Hynix raised approximately $26.5 billion in its U.S. stock sale.
- Investment banks and brokerages earned nearly $260 million in fees from the SK Hynix share sale.
- The fee percentage for the SK Hynix deal was about 0.97% of the total amount raised.
- SpaceX's IPO generated $500 million in fees, representing 0.67% of its deal size.
- Citigroup earned over $70 million from the SK Hynix sale, reportedly 20% more than other banks involved.
- Citigroup served as a joint global co-ordinator and depository bank for the SK Hynix deal.
Global investment banks and brokerages earned nearly $260 million in fees from SK Hynix's recent mega share sale, a significant payday for the industry. This amount represents approximately 0.97% of the total funds raised by the South Korean chipmaker.
The fees generated from SK Hynix's U.S. stock offering, which priced at $149 per depository receipt, a 2.7% premium over its Seoul average, were notably higher as a percentage of the deal size compared to SpaceX's recent record-breaking initial public offering. SpaceX's IPO, which raised $75 billion, yielded $500 million in fees for its bankers, equating to 0.67% of the total amount.
Citigroup, a joint global co-ordinator and depository bank for SK Hynix, reportedly earned over $70 million from the deal. This figure is said to be 20% more than what other banks involved in the transaction received. Bank of America, Goldman Sachs, and JPMorgan also served as global co-ordinators for the SK Hynix sale.