(Bloomberg) -- The lights may be going out on Wall
Street, where for the first time since World War II bankers are
on the verge of earning less from initial public offerings than
in Europe.
As American underwriters continue to charge double the
going fee rate on European IPOs, the total amount of money
raised in Europe so far this year is 78 percent greater than the
value of U.S. offerings, data compiled by Bloomberg show. As a
result, the historic bank-earnings gap between the two markets
is barely perceptible: more than $1.1 billion in fees from IPOs
in Europe, compared with about $1.4 billion from initial sales
on American stock exchanges. In 2002, investment banks earned
five times as much taking companies public in the U.S. as they
did in Europe.
Read more at Bloomberg Exclusive News
Street, where for the first time since World War II bankers are
on the verge of earning less from initial public offerings than
in Europe.
As American underwriters continue to charge double the
going fee rate on European IPOs, the total amount of money
raised in Europe so far this year is 78 percent greater than the
value of U.S. offerings, data compiled by Bloomberg show. As a
result, the historic bank-earnings gap between the two markets
is barely perceptible: more than $1.1 billion in fees from IPOs
in Europe, compared with about $1.4 billion from initial sales
on American stock exchanges. In 2002, investment banks earned
five times as much taking companies public in the U.S. as they
did in Europe.
Read more at Bloomberg Exclusive News
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