Goldman Sachs and Morgan Stanley have benefited from another wave of fees as China?s largest listed companies tap stock markets again.
Goldman Sachs has recently raked in $55 million in fees, $29 million of which was from IPOs and $26 million from follow on share sales, according to Dealogic. Morgan Stanley collected $50 million; of that $27 million was for IPOs and $23 million for subsequent share issuances.
The two firms collected 57% of the $86 million in total fees reports Dealogic.
Morgan Stanley helped China Telecom sell $1.7 billion worth of shares in May. It also arranged BP?s $744 million sale of Sinopec Corporation shares in February.
Goldman Sachs worked on Bank of China?s $1.9 billion sale of shares in its overseas flagship BOC Hong Kong in December, as well as BP?s $1.7 billion sale of its Petrochina stake in January and Royal Dutch/Shell Group?s $742 million sale of Sinopec shares in March.
The two firms are well positioned for the future, especially as the Chinese market is expected to produce an additional $26 billion in overseas IPOs this year.