Citi eyes record Korean capital issuance year

The bank has raised $60b for Korean clients globally year to date.

Citigroup Global Markets Korea (CGMK) said that it expects continued mergers & acquisitions (M&A) activity, both inbound and outbound, across a variety of sectors that include tech, consumer, and healthcare.

Citi has raised a total of $60b for Korean clients across global debt and equity markets, across 40 transactions so far, the bank said.

Citi’s Korea investment banking franchise also said that it has a “strong and long” pipeline, including SK Hynix’s $26.5b initial public offering (IPO) in the US, the largest US IPO ever from a foreign issuer.

CGMK expects a record year for capital markets issuance in South Korea.

CGMK occupies a 16% market share, based on data from the Dealogic Korea Investment Banking Wallet League table.

Citi is also seeing associated M&A as local corporations go global and increasingly lean into Citi’s leading global network for key strategic financings and advisory work, according to Jangho Park, CEO of CGMK.