Reddit Inc. is only the fourth-largest U.S. initial public offering this year, but it's in focus for Wall Street banks hoping that the doldrums are over for the IPO market -- and their underwriting fees.

Wall Street

Reddit Inc. is set to become the fourth-largest initial public offering (IPO) in the U.S. this year. This event has caught the attention of Wall Street banks, which are keenly observing the situation with the anticipation that it could signal an end to the current slow phase in the IPO market. These banks are particularly interested in the potential increase in their underwriting fees as a result of this IPO.



Banks watch Reddit IPO with eye on underwriting rebound

we learned in the last few minutes that read it. It's now indicated to open between forty nine dollars and 50 cents to 50 dollars and 50 cents. So that range continuing to narrow. And as we await of course the first trade let's look now at the underwriters of this IPO. The big banks that are making us happen here to walk us through it is Bloomberg's Amy or an Amy. How important is this read it IPO when it comes to the bank's underwriting fees. So in terms of the size is not the biggest so far this year is only the fourth largest. But it's more about the sentiment given the fact that we had a sterile lapse and also read it. Now it seems like it's going to trade very well. And then it's mostly about opening up the window for IPOs for the rest of the cohorts that's been waiting for a very long time. Remember like even read it has been waiting since 2021. So there are a lot of other companies in the same bucket as read it. And so this is more about sentiment opening up for other people. So in terms of fees for this particular one it hasn't actually announced it yet. But IPOs of similar size is around 40 million dollars. Essentially it's going to be shared among 16 banks. It's not a lot but it's still quite a lot to be shared around. We'll talk to us about the context of that. How do those fees so far compare to previous years when it comes to IPO fees. So this year is actually doing very well so far this year in terms of IPO volume is around eight billion dollars. So compared to last year the same period of time last year it's only around two billion or so. So we're doing very well so far at the beginning of the year. But it's nothing compared to like 21 or 20 when there were 300 billion dollars and 181 billion dollars of IPOs were being raised. So the fees there was much higher. But it's been made up by follow up follow on offerings and also for convertible bonds.

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Jerusalem

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Tbilisi

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Tel Aviv-Yafo

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Council of the City of Sydney

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The Hague

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New York

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London

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Canberra

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Odesa

Ukraine Invasion

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Kharkiv

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Riyadh

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Turin

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Beirut

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Sulphur

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Oklahoma

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Donetsk

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Shanghai

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