Global investment banks and brokerages leading SK Hynix's mega share sale earned nearly $260 million in fees, a boost for the industry which took in a relatively modest $500 million from SpaceX's record share sale last month.
The fees equate to about 0.97% of the total amount raised, SK Hynix's filings showed, meaning bankers earned more as a percentage of deal size than those who worked on SpaceX's initial public offering.
SpaceX bankers earned 0.67% or $500 million of the $75 billion in an IPO which eclipsed the previous record set by Saudi Aramco in 2019, as well as SK Hynix's U.S. listing this week.
Citigroup earned over $70 million from the SK Hynix sale, which was 20% more than other banks on the deal, said a person with direct knowledge of the matter, who declined to be identified when discussing confidential information.
Citigroup was a joint global co-ordinator and the depository bank on the deal. The bank declined to comment on fees earned.
Bank of America, Goldman Sachs and JPMorgan were also global co-ordinators.
JPMorgan declined to comment. Bank of America and Goldman Sachs did not respond to requests for comment.
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.
