UBS offered to underwrite a $1.2 billion sell down of Auckland Airport shares without charging fees amid an end-of-year scramble by the major banks to win market share and secure their place on all-important league tables.
The rush to secure a prime spot on those rankings – a critical metric for prospective sellers considering which trading desk to mandate on big transactions – has come during a rush of trades to close the year.
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Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
