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Citi Surpasses Goldman Sachs to Claim Crown as World's Top IPO Underwriter
M
Moneycontrol•06-10-2026, 11:35
Citi Surpasses Goldman Sachs to Claim Crown as World's Top IPO Underwriter
- •Citigroup Inc. secured the number one spot for global initial public offerings through September, narrowly edging out Goldman Sachs Group Inc.
- •The success was driven by major transactions including the National Stock Exchange of India Ltd.'s 2.4 billion dollar listing and SK Hynix Inc.'s record-breaking 26.5 billion dollar Nasdaq listing.
- •Citi also played a key role in SpaceX's historic 86 billion dollar IPO in June.
- •The US bank's rise follows strategic global hires in its equity capital markets business, bringing in senior talent from competitors like Goldman Sachs and JPMorgan Chase & Co.
Key Questions Answered
Citi secured the top spot for global initial public offerings for the year through September by working on major transactions like National Stock Exchange of India Ltd.'s $2.4 billion listing, SK Hynix Inc.'s $26.5 billion Nasdaq listing, and SpaceX's $86 billion IPO.
Goldman Sachs Group Inc. ranked as the top underwriter globally for equity offerings, which encompasses a broader measure including block trades and follow-on share sales.
Citi added senior investment bankers globally by hiring Charlie Black from Goldman as head of North America technology ECM, Bernal J. Vargas III from JPMorgan Chase & Co. as head of North America ECM, and Rob Chan as head of ECM syndication in Asia.
