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Banks

Alibaba IPO underwriters earn $300 million in fees, 1.2 percent of deal

HONG KONG (Reuters) - Banks handling the initial public offering of Alibaba Group Holding Ltd are set to earn $300.4 million in underwriting commissions, the Chinese e-commerce giant said in a securities filing on Monday.

The fees are equivalent to 1.2 percent of the total deal, which reached $25 billion after underwriters exercised an option to sell additional shares.

The company will pay $121.8 million in fees, while selling shareholders are set to pay another $178.6 million, according to the filing.

Citigroup Inc, Credit Suisse Group AG, Deutsche Bank, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan Stanley acted as joint bookrunners of the IPO.

Reporting by Elzio Barreto; editing by Keiron Henderson

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