Citi Tops Global IPO Underwriters with Mega Deals
Citigroup Inc. has claimed the top spot as the world's leading underwriter for global initial public offerings (IPOs) for the year through September. This achievement comes after the bank's involvement in some of the largest share sales in both Asia and the US. According to data compiled by Bloomberg, Citi narrowly edged out Goldman Sachs Group Inc. in the league tables.
Despite this, Goldman Sachs remains the top underwriter globally for broader equity offerings, which include deals like block trades and follow-on share sales. Citi's recent transactions include the $2.4 billion listing of the National Stock Exchange of India Ltd. in Mumbai, one of the country's biggest IPOs. The bank also served as the lead global coordinator for SK Hynix Inc.'s $26.5 billion Nasdaq listing in July, the largest-ever US share sale by a foreign company. Additionally, Citi played a role in SpaceX's historic $86 billion IPO in June.