Citigroup said on the 26th that its Korean investment banking franchise, Citigroup Global Markets Securities, ranked No. 1 by market share on Dealogic's Korea investment banking wallet league table.
Dealogic is a global capital markets data provider, and Citigroup Global Markets Securities secured a 16% share in Korea. The firm said it has also built a long-term deal pipeline, and expects continued inbound and outbound merger and acquisition (M&A) activity across a range of industries, including technology, consumer goods and healthcare.
Among Citi's major deals this year was its role as lead underwriter on SK hynix's (000660.KS) $26.5 billion U.S. depositary receipt (ADR) initial public offering (IPO). The deal was recorded as the largest-ever U.S. IPO by a foreign issuer and the largest equity offering in Asian market history.
According to Dealogic data, Citi has raised a total of $60 billion for its Korean clients in global debt and equity markets so far this year. The firm said it is on track for a record year.
Park Jang-ho, head of Citigroup Global Markets Securities, said Korea is one of Citi's key markets worldwide, a place where world-class companies and emerging players seeking to grow through competitive capital markets continue to stand out. "As Korean companies accelerate their globalization, related M&A is increasing, and more of them are tapping Citi's leading global network in the process," Park said.
