HONG KONG: Investment banks handling the world’s largest listing so far this year are set to earn underwriting fees well below the industry norm, with advisers enduring skinny margins to win business following a prolonged slump in listings.
Nine underwriters of Shenzhen-listed battery giant CATL are slated to receive a maximum of HK$238.7mil, the Chinese company said in a securities filing on Monday, with much of that discretionary, based on the success of the deal.
