HONG KONG -- Global investment banks earned the most fees in a decade from equity offerings by Chinese companies over the past year, but they fear the revenue pool will diminish in 2021 amid moves by U.S. authorities to kick mainland corporations off American exchanges.
Non-Chinese banks netted $1.7 billion in fees during 2020 for arranging initial public offerings of Chinese companies in the U.S., Hong Kong and the mainland, the highest since a record $1.8 billion in 2010, data from Dealogic shows.
