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Fees and Expenses

In: IPO Banks

Author

Listed:
  • Philippe Espinasse

    (University of Hong Kong)

Abstract

Fees and expenses for an IPO can be substantial, especially in the US where commissions paid to underwriters generally tend to be significantly higher in percentage terms than those common in Europe or in Asia. At 3.25 per cent, commissions for Twitter’s IPO on the New York Stock Exchange in the autumn of 20131 were widely commented in the media as particularly aggressive, although that level would be seen as high for such a prestigious flotation in Hong Kong or in Singapore. In May 2010, the fees for the US$787 million equivalent Hong Kong IPO of the Luxembourg-incorporated cosmetics company — with French origins — L’Occitane were 2.5 per cent,2 a fairly standard level for that market.

Suggested Citation

  • Philippe Espinasse, 2014. "Fees and Expenses," Palgrave Macmillan Books, in: IPO Banks, chapter 6, pages 52-55, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-41294-2_13
    DOI: 10.1057/9781137412942_13
    as

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