AMSTERDAM, July 30 (Reuters) - The Dutch government agency overseeing the initial public offering of nationalized bank ABN Amro IPO-ABN.AS said on Thursday investment banks coordinating the listing would receive only modest compensation, and no base pay.
The Netherlands Financial Investments (NLFI) agency said Morgan Stanley, ABN Amro and Deutsche Bank would split a maximum fee of 4.5 million euros ($4.9 million) together with all other participating investment banks -- after the listing is complete, and solely at the NLFI's discretion.
Usually, banks leading a listing receive base pay of a fraction of a percent of the value of stock they sell in an IPO.
ABN Amro reported a book value of 15.6 billion euros at the end of the first quarter, an indication of how much it may fetch at market when the government sells an initial 25 percent stake later this year or early in 2016.
In addition to the 4.5 million euro fee, participating banks will also receive minor travel and "out of pocket" expenses, capped at an unspecified amount.
The NLFI said total compensation for all banks involved in the IPO combined would be much less than 1 percent of the value of stock sold in the initial tranche.
The NLFI named the three banks as global coordinators on July 24.
It said on Thursday it would select additional bookrunners and co-lead managers "toward the end of August."
$1 = 0.9160 euros Reporting by Toby Sterling; Editing by Mark Potter