Canada's RBC withdrew from Alibaba IPO after employee's inadvertent comment

ALI BABA IPO SNUB: Pictured is a Royal Bank of Canada (RBC) sign is seen in downtown Toronto.

Royal Bank of Canada said it pulled out of and forfeited fees in the Alibaba  initial public offering, after an employee commented on the deal during the quiet period before the world's largest IPO.

"An employee unrelated to the Alibaba IPO process inadvertently made a comment about the transaction on an industry webinar during the period leading up to the offering," the bank said in an e-mailed statement. "Consistent with our core values of putting our clients first and out of an abundance of caution, we voluntarily chose to withdraw from the IPO transaction."