KB News Desk
Citi is leading South Korea’s investment banking market this year as brisk debt and equity issuance continues, with the firm expecting strong deal flow to extend into the second half.
Citigroup Global Markets Korea, Citi’s investment banking franchise in Korea, currently ranks first in Dealogic’s Korea Investment Banking Wallet League table with a 16 percent market share, Citi said Wednesday.
The firm also has a strong pipeline of upcoming transactions and expects continued inbound and outbound mergers and acquisitions activity across sectors including technology, consumer and healthcare.
So far this year, Citi has raised $60 billion for Korean clients across global debt and equity markets, putting CGMK on track for a record year, according to Dealogic data.
The financing came through 40 transactions, averaging more than one deal a week.
Among Citi’s major deals this year was its lead role in SK hynix’s $26.5 billion US initial public offering, the largest US IPO ever by a foreign issuer and the largest equity deal to emerge from an Asian market.
“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.
Park added Citi is also seeing increased merger and acquisition activity as Korean companies expand globally and increasingly tap the bank’s international network for strategic financing and advisory services.
