SHANGHAI, Jan. 28, 2015 /PRNewswire/ -- Noah Holdings
Limited ("Noah" or the "Company") (NYSE: NOAH), China's leading wealth and asset management
service provider focusing on high net worth individuals and
enterprises in China, today
announced that Greenwoods Asset Management, Hillhouse Capital
Management and Keywise Capital Management had agreed to purchase an
aggregate principal amount of US$80
million of convertible notes issued by the Company through
private placement. The convertible notes will bear interest
at a rate of 3.5% per annum from the issuance date and mature in
February 2020. The convertible notes
will be convertible, at the holder's option, into the Company's
American depositary shares ("ADSs"), two of which represent one
ordinary share of the Company, at a conversion price of
$23.03 per ADS, subject to customary
adjustments. The Company plans to use the net proceeds from this
private placement for the execution of its broader growth strategy,
including expansions of the Company's wealth management, asset
management and internet finance businesses, and potential
investments in or acquisitions of complementary businesses and
related licenses.
"We are pleased to have Greenwoods Asset Management, Hillhouse
Capital Management and Keywise Capital Management as our strategic
investors. We are excited to work with the investors to create
greater value for our customers and healthy development of the
industry in China. We believe this
strategic cooperation will ultimately benefit our customers and
shareholders," commented Ms. Jingbo
Wang, Co-founder, Chairman of the Board of Directors and
Chief Executive Officer of Noah.
The convertible notes and the ordinary shares represented
thereby, have not been registered under the Securities Act of 1933,
as amended (the "Securities Act"), or any state securities laws of
the United States, and may not be
offered or sold in the United
States absent registration or an applicable exemption from
registration requirements under the Securities Act and applicable
state securities laws of the United
States.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the outlook for the full year 2014 and
quotations from management in this announcement, as well as Noah's
strategic and operational plans, contain forward-looking
statements. Noah may also make written or oral forward-looking
statements in its periodic reports to the U.S. 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 actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: its goals
and strategies; its future business development, financial
condition and results of operations; the expected growth of the
wealth management market in China and internationally;
its expectations regarding demand for and market acceptance of the
products it distributes; its expectations regarding keeping and
strengthening its relationships with key clients; relevant
government policies and regulations relating to its industry; its
ability to attract and retain quality employees; its ability to
stay abreast of market trends and technological advances; its plans
to invest in research and development to enhance its product
choices and service offerings; competition in its industry
in China and internationally; general economic and
business conditions in China; and its ability to effectively
protect its intellectual property rights and not infringe on the
intellectual property rights of others. Further information
regarding these and other risks is included in Noah's filings with
the Securities and Exchange Commission, including its annual
report on Form 20-F. Noah does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law. All information provided in this press release and
in the attachments is as of the date of this press release, and
Noah undertakes no duty to update such information, except as
required under applicable law.
About Noah Holdings Limited
Noah Holdings Limited is China's leading and one of its fastest growing
wealth and asset management service provider, focusing on global
wealth investment and asset allocation services for high net worth
individuals and enterprises in China. Since its inception in 2005, Noah has
built an end-to-end, comprehensive financial platform for its
clients based on a highly client-centric model. It has won
multiple industry awards for its innovation and model
potential. Based on its 10 years of experience in investment
in China, Noah has been able to
institute a rigorous product manufacturing and selection processes
supported by an experienced risk management team. Noah
currently distributes wealth management products, including fixed
income products, private equity funds, private securities
investment fund products, mutual funds and insurance products. Noah
is also equipped with asset management services capability,
managing its own fund of funds and real estate fund products. With
about 775 relationship managers covering 60 cities in 91 branch
offices across China as of
September 30, 2014, Noah's total
coverage network encompasses China's most economically developed regions
where high net worth individuals are concentrated. It also
has a fully owned subsidiary in Hong
Kong serving the overseas investment needs of high net worth
individuals and enterprises. For more information please
visit the Company's website at http://www.noahwm.com.
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SOURCE Noah Holdings Limited