Lee Hyo-jin covers the Bank of Korea, the banking industry and broader financial news. Her previous beats include foreign affairs, North Korea and general reporting on Korean society.
Citi tops Korea investment banking league table after raising $60 bil. for clients
Citibank Korea headquarters in Seoul / Courtesy of Citibank Korea
By Lee Hyo-jin
Citigroup Global Markets Korea (CGMK), Citi's investment banking franchise in Korea, ranked No. 1 in the Dealogic Korea Investment Banking Wallet League table with a 16 percent market share, the company said Wednesday.
Citi raised a total of $60 billion for Korean clients across global debt and equity markets from January to August this year, according to Dealogic data.
The financing came through a total of 40 transactions so far this year, or more than one deal a week on average, making it a record year for CGMK.
Citi's track record includes a lead role in SK hynix's $26.5 billion offering of American depositary receipts on Nasdaq in July, which was the largest U.S. initial public offering ever by a foreign issuer and the largest equity deal ever to emerge from an Asian market, the company said.
Citi expects continued active transaction flow in Korea's investment banking sector in the second half of the year, with key financings across debt and equity capital markets expected to drive a record year for capital markets issuance from the country.
CGMK said it has a strong pipeline, while expecting continued merger and acquisition activity both inbound and outbound across sectors including technology, consumer and health care.
"Korea is one of Citi's key markets globally. It is home to a growing class of world-class corporates and emerging champions who are increasingly using capital markets at competitive levels to fund growth ambitions," said Park Jang-ho, CEO of CGMK.
"We also are seeing associated mergers and acquisitions as local corporates go global and increasingly lean into Citi's leading global network for key strategic financings and advisory work," Park added.