IPO for Chinese Wealth Manager Jupai Holdings (JP) Trades Modestly Higher

Today's IPO for Chinese wealth management firm Jupai Holdings (NYSE: JP) is trading at $10.76 after pricing 5,300,000 American Depositary Shares (ADSs), each representing six ordinary shares of the Company, at $10.00 per ADS. The ADSs opened earlier on the NYSE at $10.41.

The IPO priced at the low end of the expected $10-$12 range, likely due to the recent upheaval in the Chinese stock market.

Credit Suisse Securities (USA) LLC and China Renaissance Securities (Hong Kong) Limited acted as joint bookrunners for the offering.

Jupai Holdings Limited 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.

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