AllBright Lawyers Advise Jupai Holdings Limited’s U.S. Initial Public Offering
2015-07-2710638Jupai Holdings Limited., 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, was successfully listed on the New York Stock Exchange in the United States on July 16, 2015 (ticker: JP). Jupai was listed by way of American depositary shares (ADS) at a price of $10.00 per share for a capital raise of $53 million USD. On its first day of trading, Jupai Holdings rose to $10.41, a gain of 4.1%, to a market capitalization of $330 million USD.
Partner Steve Zhu led the AllBright legal team, which included partner Wen Congjun and Frank Xu. The team served as legal counsel to the offering underwriters and advised on PRC legal matters.
