US banks accused of strategic pricing for ‘7% solution’
The Office of Fair Trading is set to report on its UK ECM market study by the end of the month, but it is now bankers in the US that are under fire. An academic paper showed that IPO fees in the US have increasingly clustered at 7% and it put the additional cost over European fee levels to US issuers at $1bn a year. Read EuroWeek on Friday for full coverage.
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