Noah Holdings Limited, which distributes wealth management products to high net worth individuals in China, announced terms for its IPO on Thursday. The Shanghai-based company plans to raise $84 million by offering 8.4 million ADSs at a price range of $9-$11. At the mid-point of the proposed range, Noah Holdings will command a market value of $547 million. Noah Holdings, which was founded in 2005 and booked $22 million in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol NOAH. J.P. Morgan and BofA Merrill Lynch are the lead underwriters on the deal, which is expected to price during the week of November 8.
