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Noah Holdings Limited (“Noah” or the “Company”) (NYSE: NOAH), a leading and pioneering wealth management services provider in China offering comprehensive one-stop global investment and allocation advisory services of assets primarily for high net worth investors, today announced the price of the global offering (the “Global Offering”) of an aggregate of 1,100,000 Class A common shares of the Company (the “Shares of offer”). The Global Offering comprises an international offering (the “International Offering”) and a public offering in Hong Kong (the “Hong Kong Public Offering”).
The final offer price for the International Offer and the Hong Kong Public Offer (the “Offer Price”) has been set at HK$292.00 per Offer Share. Based on the ratio of two NYSE-listed American Depository Shares (“ADSs”) to one Class A common stock, the offer price translates to approximately $18.60 per ADS based on a exchange rate of $7.8498 per $1.00 as of June 17, 2022, as reported in Federal Reserve Board Statistical Release H.10.
Subject to approval by the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), the Company’s Class A ordinary shares are expected to commence trading on the main board of the Hong Kong Stock Exchange on Wednesday 13 July 2022 under stock code “6686”. The Global Offering is expected to close on the same day, subject to customary closing conditions.
In addition, the Company has granted an over-allotment option to international subscribers, exercisable by the sole representative for himself and on behalf of the international subscribers, from the date of the international subscription agreement to be dated on or on around July 6, 2022 until 30 days after the last day for filing applications under the Hong Kong Public Offer, to require the Company to issue up to an aggregate of 165,000 additional Offered Shares at the Offer Price.
The Company’s gross proceeds from the Global Offering, before deduction of subscription fees and estimated offering costs payable by the Company, are expected to be HK$321.2 million (assuming the option over-allotment is not exercised).
The Company plans to use the net proceeds of the Global Offering to further develop its wealth management business, to further develop its asset management business, to selectively pursue potential investments, to invest in its in-house technology in all lines of business, for overseas expansion, and for general corporate purposes. To the extent the net proceeds of the Global Offering are not immediately required for the above purposes or the Company is unable to implement any part of its plan as planned, the Company will hold such funds in short-term, interest-bearing securities. accounts in authorized licensed banks.
Goldman Sachs (Asia) LLC is the sole sponsor and sole representative of the Global Offering. Goldman Sachs (Asia) LLC, BOCI Asia Limited and DBS Asia Capital Limited are joint global coordinators, joint bookrunners and joint lead managers for the Global Offering. Futu Securities International (Hong Kong) Limited is joint bookrunner and joint lead manager for the Global Offering.
The International Offering is being made only by means of a preliminary prospectus supplement dated June 29, 2022 and accompanying prospectus included in an automatic shelf registration statement on Form F-3 filed with the Securities and Exchange Commission. of the United States (the “SEC”) on June 21, 2022, which is automatically effective upon filing. The Registration Statement on Form F-3 and the Preliminary Prospectus Supplement are available on the SEC’s website at: http://www.sec.gov. The final prospectus supplement will be filed with the SEC and will be available on the SEC’s website at: http://www.sec.gov. When available, copies of the final prospectus supplement and accompanying offering prospectus may also be obtained from Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282-2198, Attention : Prospectus Department (1-866-471-2526), or Email: [email protected]BOCI Asia Limited, 26/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong, Attention: Investment Banking Division (852-3988 6000), or E-mail: [email protected]DBS Asia Capital Limited, Attention: DBS Asia Capital Ltd – Equity Syndicate, or E-mail: [email protected] and Futu Securities International (Hong Kong) Limited, Attention: Tse Chi Kin, Daniel, or E-mail: [email protected].
This press release does not constitute an offer to sell or the solicitation of an offer or an invitation to buy securities of the Company, and there will be no offer or sale of such securities in any state or other jurisdiction in which any such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined by the laws of Hong Kong) and prospective investors should read the Company’s prospectus for detailed information about the Company and the proposed offering, before deciding whether or not to invest in the Company. . This press release has not been reviewed or approved by the Hong Kong Stock Exchange or the Hong Kong Securities and Futures Commission.
The price of the Offered Shares of the Company may be stabilized in accordance with the Securities and Futures (Price Stabilization) Rules. Details of the proposed stabilization and how it will be regulated under the Securities and Futures Ordinance (Cap 571 of the Laws of Hong Kong) are set out in the Company’s prospectus dated June 30, 2022.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited (NYSE: NOAH) is a leading and pioneering wealth management services provider in China, offering one-stop comprehensive advisory services on global investing and asset allocation, primarily for high net worth investors. . Noah is a Cayman Islands holding company and does business in Hong Kong as Noah Holdings Private Wealth and Asset Management Limited.
Noah’s wealth management business primarily distributes private equity, government securities and insurance products denominated in RMB and other currencies. Noah offers personalized financial solutions to its clients through a network of 1,281 relationship managers in 83 mainland Chinese cities, and serves its clients’ international investment needs through offices in Hong Kong. , Taiwan, New York, Silicon Valley and Singapore. The firm’s wealth management business had 415,082 registered clients as of March 31, 2022. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and… other investments denominated in renminbi and other currencies. Noah also supplies other businesses.
For more information, please visit Noah at ir.noahgroup.com.
This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates”, “confidently”, and similar statements. Among other things, the 2022 outlook and management quotes in this announcement, as well as Noah’s strategic and operating plans, contain forward-looking statements. Noah may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers. , directors or employees to third parties. Statements that are not historical facts, including statements about Noah’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause Noah’s actual results to differ materially from those contained in any forward-looking statements, including, but not limited to, the following: its objectives and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth and asset management market in China and internationally; its expectations regarding market demand and acceptance of the products it distributes; investment risks associated with investment products distributed to Noah investors, including the risk of counterparty default or loss of value due to market or business conditions or misconduct of counterparties; its expectations regarding maintaining and strengthening its relationships with its key customers; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to keep abreast of market trends and technological advances; its research and development investment plans to improve its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions in China; and its ability to effectively protect its intellectual property rights and not infringe the intellectual property rights of others. Further information regarding these and other risks is included in Noah’s filings with the United States Securities and Exchange Commission, including its annual reports on Form 20-F and other filings with the SEC and the Hong Kong registered prospectus. All information provided in this press release and in the attachments is as of the date of this press release, and Noah undertakes no obligation to update such information, including forward-looking statements, as a result of new information. , future events or otherwise, except as required by applicable law.
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SOURCENoah Holdings Limited