In today’s briefing:
- Noah Holdings: Rich Pickings but Patience Required
Noah Holdings: Rich Pickings but Patience Required
- Noah Holdings (NOAH US) priced its H Share at HK$292.00 per share (US$18.60 per ADS) to raise gross proceeds of US$41 million. The H Share will trade on 13 July.
- The H Share listing is primarily to address the risk of a potential US delisting. With cash accounting for around 50% of the market cap, Noah is well capitalised.
- The valuation is attractive for a company well-positioned to take advantage of any improving market sentiment and an easing of the risk-off sentiment.
Before it’s here, it’s on Smartkarma
