Low fees? No problem, say investment banks

NZ’s Meridian Energy IPO fees are so low it may make it difficult for investment banks to make a profit on the deal.

Investment banks have been so keen to get work in a tepid deal environment that they are accepting extremely low fees on deals that may make it hard for them to make a profit.

But the work nevertheless helps their league table ranking, trading desks and reputation, especially if it is government work.

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