South Korea's IPO boom leaves investment banks short changed

Hong Kong IPOs generally pay fees of 2%, in line with the New York Stock Exchange, while Nasdaq listings net bankers an average of 3.4%,

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.
 

Such rates make the country one of the lowest fee-paying major equity capital markets (ECM) in the world.

Hong Kong IPOs generally pay fees of 2%, in line with the