Kirkland & Ellis represented Noah Holdings Limited (HKSE: 06686; NYSE: NOAH), a leading and pioneer wealth management service provider in China, on its secondary listing on the Hong Kong Stock Exchange, which includes a global offering.
A Cayman Islands holding company that carries on business in Hong Kong as Noah Holdings Private Wealth and Asset Management Limited, Noah offers comprehensive one-stop advisory services on global investment and asset allocation service primarily for high-net-worth investors. It has a network of 1,281 relationship managers across 83 cities in mainland China and serves the needs of its international clients through offices in Hong Kong, Taiwan, New York, Silicon Valley and Singapore. As of March 31, 2022, Noah’s wealth management business had over 415,000 registered clients. Noah’s American Depositary Shares have been listed on the New York Stock Exchange since 2010. This transaction represents a continuation of the ongoing trend of Chinese companies listed in the US seeking secondary listings in Hong Kong. Goldman Sachs is the sole sponsor and sole representative for this listing which took place on July 13, 2022.
The Kirkland team was led by transactional partner David Zhang and capital markets partners Mengyu Lu and Steve Lin.