https://www.reuters.com/article/us-alibaba-listing/alibaba-to-pay-banks-up-to-32-3-million-in-fees-for-hong-kong-listing-idUSKBN1XU2WO

Alibaba will pay its investment banking syndicate up to $32.3 million for leading its Hong Kong listing which will raise up to $12.9 billion, according to documents filed with U.S. securities regulators.