Citigroup heads global IPO underwriting through September
Citigroup Inc. secured the leading position among underwriters in global initial public offerings for the year up to September, having participated in several of the largest share sales in both Asia and the United States. Citi was positioned just ahead of Goldman Sachs Group Inc. in the league tables, as per data. Goldman was the leading underwriter worldwide for equity offerings, a more comprehensive metric that encompasses transactions like block trades and follow-on share sales, according to the data.
Citi was involved in transactions such as the $2.4 billion listing of National Stock Exchange of India Ltd. in Mumbai in September, marking one of the largest in the history of the country. It served as the lead global coordinator for SK Hynix Inc.’s $26.5 billion Nasdaq listing in July, marking the largest US share sale by a foreign company to date. It also played a part in SpaceX’s historic $86 billion IPO in June.
The US lender has been expanding its team by adding numerous senior investment bankers worldwide, particularly within its equity capital markets division. Last year, Citi appointed Charlie Black from Goldman as the head of North America technology ECM, alongside Bernal J. Vargas III from JPMorgan Chase & Co. as the head of ECM in North America. Rob Chan has been appointed as the head of ECM syndication in Asia.
