SHANGHAI, Dec. 30, 2015 /PRNewswire/ -- Jupai Holdings
Limited ("Jupai" or the "Company") (NYSE: JP), a leading
third-party wealth management service provider in China, today announced that it has entered
into a share purchase agreement with each of Julius Baer Investment
Ltd. ("Julius Baer"), a wholly owned
subsidiary of Julius Baer Group Limited (SIX: BAER), a leading
Swiss private banking group, and SINA Hong Kong Limited ("SINA"), a
wholly owned subsidiary of SINA Corporation (NASDAQ: SINA), a
leading Chinese online media company.
As part of the agreement with Julius
Baer, Jupai will issue to Julius
Baer 9,591,000 ordinary shares (equivalent to 1,598,500
ADSs), which represents approximately 4.99% of the Company's total
outstanding share capital immediately upon the completion of the
transaction, at $1.83 per share
(equivalent to $11 per ADS). Under
the agreement with SINA, the Company will issue to SINA, at the
same price, 2,880,000 ordinary shares (equivalent to 480,000 ADSs)
representing approximately 1.5% of the Company's total outstanding
share capital immediately after the completion of the transaction.
SINA's beneficial ownership in Jupai will be 11.35% immediately
upon completion of the transaction. The aggregate transaction value
of this private placement is approximately $22.9 million. The private placement to
Julius Baer and SINA is expected to
close in January 2016.
Jianda Ni, the Co-Chairman of the
Board of Directors and Chief Executive Officer of Jupai, commented,
"Julius Baer is a global leading
private wealth management bank with operations spanning many
countries and regions. This investment is a strong endorsement of
Jupai's brand and management strength. We expect the cooperation
between our two companies will further diversify Jupai's product
categories and add more overseas financial products to our existing
product lines, allowing us to better meet the demand for overseas
asset allocation among Jupai's clients. In addition, Julius Baer's valuable experience in the wealth
management industry will help to further improve the expertise of
Jupai's financial advisors."
Boris Collardi, CEO of Julius
Baer said, "Given the importance of Asia as a key region for growth, Julius Baer has over the last 10 years built up
its Asian business to become its second home market. Participating
in Jupai's private placement will provide Julius Baer with valuable insight into one of
the most successful players in Chinese onshore wealth management
and further strengthen our expertise in China, whilst providing Jupai access to our
global investment know-how."
ABOUT JUPAI HOLDINGS LIMITED
Jupai Holdings Limited ("Jupai") (NYSE: JP) is a leading
third-party wealth management service provider focusing on
distributing wealth management products and providing quality
product advisory services to high-net-worth individuals in
China. Jupai's comprehensive and personalized client service
and broad range of carefully selected third-party and
self-developed products have made it a trusted brand among its
clients. Jupai maintains extensive and targeted coverage of
China's high-net-worth
population.
For more information, please
visit http://jupai.investorroom.com.
SAFE HARBOR STATEMENT
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the quotations from management in this announcement,
as well as Jupai's strategic and operational plans, contain
forward-looking statements. Jupai may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission, in its annual report to
shareholders, in other press releases and other written materials
and in oral statements made by its officers, directors or employees
to third parties. Statements that are not historical facts,
including statements about Jupai's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the goals and strategies of the Company and the
Company's ability to manage its growth and implement its business
strategies; future business development, financial condition and
results of operations of the Company; condition of the wealth
management market in China and
internationally; the demand for and market acceptance of the
products the Company distributes; the Company's ability to maintain
and further grow its active high-net-worth client base and maintain
or increase the amount of investment by clients; developments in
relevant government policies and regulations relating to the
Company's industry and the Company's ability to comply with those
policies and regulations; the Company's ability to attract and
retain quality employees; the Company's ability to adapt to
potential uncertainties in the relevant industry and stay abreast
of market trends and technological advances; the results of the
Company's investments in research and development to enhance its
product choices and service offerings; general economic and
business conditions in China; the
result of the integration of E-House Capital into the Company; and
the Company's ability to protect its reputation and enhance its
brand recognition. Further information regarding these and other
risks is included in Jupai's filings with the U.S. Securities and
Exchange Commission. All information provided in this press release
and in the attachments is as of the date of this press release, and
Jupai does not undertake any obligation to update any such
information, including forward-looking statements, as a result of
new information, future events or otherwise, except as required
under applicable law.
Contacts:
Jupai Holdings Limited
Michelle Yuan
Deputy CFO
Jupai Holdings Limited
Phone: +86 (21) 6859 5055
Email: ir@jpinvestment.cn
Philip Lisio
The Foote Group
Phone: +86 (21) 6230 5097
Email: Jupai-IR@thefootegroup.com
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SOURCE Jupai Holdings Limited