Your Holiday Gifts Still Haven’t Arrived. Now What?

The fees investment banks charge to underwrite IPOs can gobble several points from a public company’s gross proceeds, but new competition is giving some firms a chance to hold on to more of that sweet debut money.This week, Nubank paid just 1.6% of the $2.6 billion it raised to its underwriters. As Bloomberg reported, “among 490 IPOs in the U.S. so far this year, only three paid a smaller percenta