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UBS set for bumper payday in China

UBS, a joint bookrunner on Bank of China's $9.9bn (€7.7bn) initial public offering alongside Goldman Sachs, is set to reap its largest ever fee from the deal. It will also be Goldman's biggest earner from a flotation since 2000.

China's second-largest lender is set to pay $245m in fees to the investment banks working on its initial public offering, after revising the price range for the deal last week.

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