It would not be unusual for an investment banking syndicate to include as many as 30 investment banking houses in large offerings.

Name: It would not be unusual for an investment banking syndicate to include as many as 30 investment banking houses in large offerings.
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Large offerings typically require the participation of multiple investment banks to share the underwriting risk and increase the distribution of the securities. Syndicates of 20 to 30 banks are common in such cases.

It Would Not Be Unusual for an Investment Banking Syndicate