$IPO UNDERWRITING FEE DROPS TO 0.6% – STRUCTURAL SHIFT IN EQUITY MARKETS 🔥
The underwriting syndicate for this IPO, led by CICC and CITIC, is charging just 0.6% — well below market expectations. With six securities firms involved, the total fee lands at 184 million yuan, but several underwriters are also shareholders, signaling a move from fee collection to asset-based returns.
This transition mirrors what we see in crypto when liquidity providers shift from passive yield to strategic positioning. The question is whether the same pressure will compress fees further across the board.
Not financial advice. Always manage your risk.
#IPO #Underwriting #MarketStructure #EquityMarkets 🔥