Deutsche Bank regains its IPO sponsor license in Hong Kong


HONG KONG, September 2 (Reuters)German Bank DBKGn.DE regained its initial public offer (IPO) sponsor license in Hong Kong after it was suspended in June following the departure of key staff, according to a notice posted on the market watch body’s website from the city.

Regulators put the license on hold when the bank’s major IPOs left.

Deutsche had always been able to work on transactions in a junior role but could not act as a sponsor, which in Hong Kong is the highest role on an IPO.

In Hong Kong, IPOs need at least one sponsor bank, which typically collects a higher proportion of fees than banks listed only as bookkeepers.

Deutsche has recruited a number of senior bankers, led by Ian Long as vice president of investment banking and hedging for Asia.

Long, along with two other recent hires – Derek Chung and Albert Chang – will be the main sponsors of the bank’s IPO, according to the publication on the Securities and Futures Commission (SFC) website.

According to data from Refinitiv, Deutsche Bank was not among the top 25 banks in Asia-Pacific capital markets rankings in the first half of this year.

He rebuilt part of his ECM team in Asia after the downsizing as part of a global restructuring in 2019.

(Reporting by Scott Murdoch and Alun John in Hong Kong; editing by John Stonestreet)

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