SpaceX Assigns Some IPO Banks to Lowest Co-Manager Tier for Small Fees
Updated
Updated · Bloomberg · Jun 10
SpaceX Assigns Some IPO Banks to Lowest Co-Manager Tier for Small Fees
1 articles · Updated · Bloomberg · Jun 10
Summary
Several lower-line banks in SpaceX’s IPO syndicate were told in recent weeks they would serve only as co-managers, the lowest-ranking role on the deal.
Those assignments come with relatively small fees and no league-table credit, leaving some junior banks frustrated despite SpaceX’s high-profile listing.
Societe Generale and Mizuho Financial Group were among the banks notified of the junior status, according to people familiar with the matter.
The lineup details highlight how tightly prized economics and recognition are being controlled in what is shaping up as a landmark SpaceX flotation.