NOAH - Noah to raise capital in 1.1M global stock offering

• Noah ( NYSE: NOAH ) announced the launch of its global offering of 1.1M Class A ordinary shares of the company.
• The global offering comprises of a Hong Kong public offering of initially 110K Class A ordinary shares commencing on June 30, 2022, Hong Kong time and an international offering of initially 990K Class A ordinary shares.
• The company's ADS two of which representing one Class A ordinary share of the company, will continue to be listed and traded on NYSE.
• Investors in the global offering will only be able to purchase Class A ordinary shares and will not be able to take delivery of ADSs.
• The initial number of Class A ordinary shares under each of the Hong Kong Public Offering and the International Offering represents ~10% and 90% of the total number of Class A ordinary shares initially available under the global offering.
• International underwriters granted an over-allotment option to require it to allot and issue up to an additional 165K Class A ordinary shares representing ~15% of the total number of Class A ordinary shares.
• The offer price for the Hong Kong Public Offering will be no more than HK$307 or $39.12, per Class A ordinary share.
• Net proceeds to be used for further developing its wealth management business, for further developing its asset management business, for selectively pursuing potential investments, for investing in its in-house technology across all business lines, for overseas expansion, and for general corporate purposes.
• Shares trading 3.2% down premarket.

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