Jul 01, 2022 04:19 AM

FINANCE

Noah Holdings Seeks $43 Million in Hong Kong Secondary Listing

By Wei Yiyang and Denise Jia

Noah was also caught up in a scandal over selling a fraudulent banking product to customers and was involved in lawsuits in 2019.

Noah was also caught up in a scandal over selling a fraudulent banking product to customers and was involved in lawsuits in 2019.

Noah Holdings Ltd., one of China’s biggest wealth management companies, plans to raise as much as HK$338 million ($43 million) by selling stock in Hong Kong, the company said Thursday in a prospectus.

The company, which serves high net worth investors, is among Chinese businesses facing delisting in the U.S. in the long-running U.S.-Sino dispute over auditing rules.

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