Jupai Holdings, a Chinese provider of wealth management products, announced terms for its IPO on Tuesday.
The Shanghai, China-based company plans to raise $65 million by offering 5.9 million shares (25% insider) at a price range of $10 to $12. At the midpoint of the proposed range, Jupai Holdings would command a fully diluted market value of $339 million.
Jupai Holdings, which was founded in 2010 and booked $45 million in revenue for the 12 months ended March 31, 2015, plans to list on the NYSE under the symbol JP. Credit Suisse and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of July 13, 2015.
