Citi Group ranked first in global initial public offering underwriting through September this year, helped by several large equity offerings in Asia and the United States. According to Sina Finance, Citi was slightly ahead of Goldman Sachs in the IPO underwriting rankings, while Goldman Sachs remained No. 1 in broader equity issuance underwriting that includes block trades and follow-on offerings.
Citi’s deals included the $2.4 billion listing completed by the National Stock Exchange of India in Mumbai in September, one of the largest listings in India’s history; it also served as global coordinator for SK Hynix’s $26.5 billion Nasdaq listing in July, the largest stock offering by a foreign company in U.S. history; and it participated in SpaceX’s milestone $86 billion IPO in June. The U.S. bank is also hiring dozens of senior investment bankers globally to expand its equity capital markets business.
