A leading and innovative wealth management service provider in China, Noah Holdings Limited (the “Company” or “Noah”) (NYSE: NOAH and HKEX: 6686), recently announced the voluntary conversion of its secondary listing status to a primary listing status on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”). The Business is now a dual-primary listed company on the New York Stock Exchange (“NYSE”) in the United States as well as the Hong Kong Stock Exchange in Hong Kong.

Our conversion to dual primary listing status on the Hong Kong Stock Exchange was successfully accomplished today, said Ms. Jingbo Wang, the company’s chairwoman and chief executive officer. Our chances of being accepted into the Mainland-Hong Kong Stock Connect programme, which will increase the liquidity of our shares and optimise our investor base, are now better thanks to the conversion’s success. Noah is dedicated to generating profit for its shareholders, and we’ll work hard to keep giving our customers high-caliber financial services.

Investors can continue to hold their shares in the form of ADSs traded on the NYSE or ordinary shares traded on the Hong Kong Stock Exchange because the Company’s American Depositary Shares (“ADS(s)”) listed on the NYSE and the ordinary shares listed on the Hong Kong Stock Exchange (the “ordinary share(s)”) are fungible (subject to the provisions of the ADS deposit agreement). Ordinary shares and ADSs are both convertible (i.e., into and out of ADS form), with some restrictions. In either case, the conversion between ADSs and common shares can typically be performed electronically within two Hong Kong/U.S. working days. Investors should contact their broker for more details on the steps and expenses involved in converting ADSs to common shares. If you are a broker, please get in touch with Citibank, N.A., serving as the Company’s custodian in Hong Kong or the depositary for the Company’s ADSs in the U.S., to arrange a conversion of ADSs to ordinary shares. The asking investor will be responsible for paying any costs associated with carrying out a withdrawal of common shares upon cancellation of the corresponding ADSs or a deposit of common shares for the issuance of the corresponding ADSs.

Source: Prnewswire