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
Chairwoman of the Board
Hong Kong, August , 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