Dec 22, 2022 05:20 AM

Chinese Banks Edge Out Wall Street Rivals in Global IPO Rankings

(Bloomberg) ― Chinese lenders leaped ahead of Wall Street rivals in global rankings for initial public offerings as China wraps up a record year for share sales, bucking one of the worst slowdowns in deals history.

Citic Securities Co. pushed ahead of Goldman Sachs Group Inc. as the top underwriter of IPOs this year, followed by China International Capital Corp., Bloomberg league tables show. It’s the first time the top two spots were held by mainland lenders since at least 1999. Six out of the world’s top 10 IPO banks are Chinese, commanding an almost 28% market share. Citigroup Inc. ranks third this year.

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