【龙腾网】蚂蚁集团上市将给投行带来丰厚收入

正文翻译

Wall Street banks including Citigroup, JPMorgan and Morgan Stanley are poised to share at least $300m in fees from the blockbuster dual listing of Chinese payments company Ant Group, in what is likely to be the biggest windfall in a decade for bankers in Asia’s top financial hub.

中国支付公司蚂蚁集团(的重磅两地上市将给花旗集团、摩根大通和摩根士丹利等华尔街银行总共带来至少3亿美元手续费收入。对于常驻香港的银行家，这可能是10年来最大一笔手续费收入。

Ant said it will offer at least 10 per cent of its shares in a dual offering in Hong Kong and Shanghai at a valuation of between $200bn and $300bn. People familiar with the plans say it could offer up to 15 per cent. At the top end of the range, the listing could even net up to $450m in Hong Kong — a record for Asian deals outside Japan.

蚂蚁集团表示，将以2000亿至3000亿美元之间的估值，在香港和上海两地至少发行10%股份。知情人士称，该集团可能至多发行15%股份。在这一区间的最高端，此次上市可能在香港产生4.5亿美元手续费，创下日本以外亚洲交易的纪录。

The fees from the Ant Group initial public offering will be “humongous” said John Mullally, a Hong Kong-based director for financial recruitment group Robert Walters. “People who run banks in Hong Kong are hoping it is a harbinger of how the city will streak ahead, especially with more Chinese companies choosing it over the US,” Mr Mullally added.

金融业招聘集团华德士驻香港的总监约翰·穆拉利表示，蚂蚁集团首次公开发行(IPO)将带来“巨额”手续费收入。“在香港经营银行的人们希望这预示着香港将占据并保持领先地位，特别是随着越来越多的中国公司选择在香港而不是美国上市，”穆拉利补充说。

Citi, JPMorgan and Morgan Stanley declined to comment on expected fee revenues from the IPO. China International Capital Corporation — also a sponsor on the deal — did not respond to a request for comment. 

花旗、摩根大通和摩根士丹利均拒绝对此次IPO的预期手续费收入发表评论。同样担任此次上市保荐人的中金公司未回应记者的置评请求。

The expected windfall for the top investment banks on the Ant Group listing follows a fall in deal volumes and fees in 2019. In response to that downturn, Morgan Stanley cut its 2019 investment banking bonus pool by about 9 per cent in Asia, while Citi’s regional business trimmed its pool by about 6 per cent.

蚂蚁集团上市预计将给顶级投资银行带来丰厚收入，而此前交易规模和手续费收入在2019年双双下降。针对这一低迷，摩根士丹利将其在亚洲的2019年投行奖金池削减约9%，而花旗的地区业务将其奖金池削减约6%。

Still, despite simmering hostility between Washington and Beijing this year, Wall Street banks have earned more than $410m in fees from Chinese listings in New York and Hong Kong in 2020, up almost a quarter from a year ago.

话虽如此，尽管华盛顿和北京方面之间今年敌对情绪不断发酵，但华尔街银行在2020年仍从中企在纽约和香港的上市赚取逾4.1亿美元手续费，较一年前增长近四分之一。

Mr Espinasse added that Hong Kong share offerings were “increasingly seeing Chinese banks in top positions”, nudging out international peers as mainland financial groups expanded their presence in the city. This month a Financial Times analysis found that mainland investment bankers would soon outnumber their global rivals in Hong Kong.

裴达希补充说，随着中国内地金融集团扩大在香港的业务，在香港进行的股票发行“越来越多地看到中资银行居于首位”，对国际同行形成挤出效应。英国《金融时报》本月一项分析发现，在香港的内地投资银行家人数很快就会超过全球竞争对手。

“The tendency in China amongst Chinese corporates is to squeeze bankers on fees,” he said. “Ant’s size mitigates that but it is not going to be a game-changer for bonuses and fees in general.”

“在中国，中资企业倾向于压低银行家的手续费，”他表示。“蚂蚁的规模减轻了这种情况，但这不会从总体上改变奖金和手续费的游戏规则。”