Investment banks, brokerages left short changed in South Korea’s IPO boom

Photo: Daniel Bernard /

South Korea’s equity offering boom has created a money spinning opportunity for issuers and investors, but it has brought little cheer to at least one segment of the capital market: investment banks and brokerages working on those transactions.

LG Energy Solution Ltd’s (LGES) $10.8 billion initial public offering (IPO), the largest ever in South Korea, netted bankers working on the deal less than 1% of the proceeds, Dealogic data showed.

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