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Noah Holdings IPO raises 20 pct more - underwriter

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KinGSolomonsPOOLs   Thursday, 11/11/10 02:03:22 PM
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Noah Holdings IPO raises 20 pct more - underwriter

NEW YORK | Tue Nov 9, 2010 5:56pm EST

NEW YORK Nov 9 (Reuters) - Noah Holdings Ltd, an independent seller of wealth management products in China, raised 20 percent more in proceeds than expected in its initial public offering on Tuesday, according to an underwriter.

The company sold 8.4 million American Depositary Shares for $12 each, raising about $100.8 million. It had planned to sell the shares for $9 to $11 each. (Reporting by Clare Baldwin; Editing by Richard Chang)

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