SK hynix raised about US$26.5 billion in a US share sale this week. The company paid nearly US$260 million in fees to the banks and brokerages running the deal, according to filings.

The fee pool equaled about 0.97% of proceeds, above the 0.67% banks earned on SpaceX’s US$75 billion initial public offering last month.

A person with direct knowledge of the matter said Citigroup earned more than US$70 million, about 20% more than the other banks on the deal.

Bank of America, Goldman Sachs, and JPMorgan also served as global coordinators. Citigroup was also the depository bank for the deal.

Still, SK hynix’s fee rate was near the low end for large equity deals, as underwriting spreads on the largest offerings rarely dip below 1%.

The fundraising comes as SK hynix has been expanding production capacity amid strong demand for high-bandwidth memory used in AI data centers.

🔗 Source: Reuters

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