SHANGHAI, Aug. 10,
2022 /PRNewswire/ -- Noah Holdings Private Wealth and
Asset Management Limited (the
"Company" or "Noah Holdings")
announces that the board of directors of the Company
(the "Board") has approved a
motion to pursue the voluntary
conversion to dual-primary listing (the "Primary Conversion")
on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock
Exchange")
pursuant to the Hong Kong Stock Exchange's guidance letter HKEX-GL112-22. The Board also authorized the Company's
senior management to proceed with the relevant
preparatory work and undertake
the necessary procedures to complete the Primary Conversion.
After completion of the Primary Conversion, the Company's
ordinary shares and American
Depositary Shares will continue to be traded
on the Hong Kong Stock
Exchange and the New York Stock Exchange,
respectively, and remain mutually fungible, as disclosed in the
section headed "Information about this Document
and the Global Offering" in the Company's
prospectus dated June 30, 2022.
The Primary Conversion is conditional upon and subject
to, among others, the Company's
compliance with the Rules Governing the Listing of Securities of The Stock Exchange of Hong
Kong Limited (the "Listing Rules") and the Company's obtaining of the necessary
approvals from the Hong Kong Stock Exchange. The Company will
make further announcement(s) to disclose any material updates and
progress with respect to the Primary Conversion to the extent
required by
the Listing Rules and other applicable laws and regulations as and when appropriate.
This announcement is for informational purposes
only and does not constitute, or form
part of, any invitation or offer to acquire, purchase
or subscribe for any securities of the
Company. Shareholders and potential investors should exercise
caution when dealing in the securities of the Company.
By Order of the Board
Noah Holdings
Private Wealth and Asset Management Limited
Jingbo
Wang
Chairwoman of the Board
Hong Kong, August [10], 2022
As at the date of this announcement, the Board comprises Ms.
Jingbo Wang, the chairwoman of the
Board, Mr. Zhe Yin and Ms.
Chia-Yue Chang as executive
directors; Mr. Neil Nanpeng Shen and Mr. Boquan He as
non-executive directors; and Dr. Zhiwu
Chen, Mr. Tze-Kaing Yang, Mr.
Jinbo Yao and Ms. May Yihong Wu
as independent directors.
ABOUT NOAH HOLDINGS LIMITED
Noah Holdings Limited (NYSE: NOAH and HKEX: 6686) is a leading
and pioneer wealth management service provider in China offering comprehensive one-stop advisory
services on global investment and asset allocation primarily for
high net worth investors. Noah is a Cayman Islands holding company and carries on
business in Hong Kong as Noah
Holdings Private Wealth and Asset Management Limited. In the first
quarter of 2022, Noah distributed RMB15.0
billion (US$2.4 billion) of
investment products. Through Gopher Asset Management, Noah had
assets under management of RMB156.1
billion (US$24.6 billion)
as of March 31, 2022.
Noah's wealth management business primarily distributes private
equity, public securities and insurance products denominated in RMB
and other currencies. Noah delivers customized financial solutions
to clients through a network of 1,281 relationship managers across
83 cities in mainland China, and
serves the international investment needs of its clients through
offices in Hong Kong, Taiwan, New
York, Silicon Valley and Singapore. The Company'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 provides other
businesses.
For more information, please visit Noah at
ir.noahgroup.com.
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SOURCE Noah Holdings Limited