Jupai To Issue Shares To Julius Baer And SINA - Quick Facts

(RTTNews) - Jupai Holdings Limited (JP) announced it has entered into a share purchase agreement with each of Julius Baer Investment Ltd., a subsidiary of Julius Baer Group Limited, and SINA Hong Kong Limited, a subsidiary of SINA Corp. (SINA). The aggregate transaction value of the private placement is approximately $22.9 million. SINA's beneficial ownership in Jupai will be 11.35% immediately upon completion of the transaction.

Jupai will issue to Julius Baer 9,591,000 ordinary shares, which represents approximately 4.99% of the company's total outstanding share capital immediately upon the completion of the transaction, at $1.83 per share.

Jupai will issue to SINA, at the same price, 2,880,000 ordinary shares representing approximately 1.5% of the company's total outstanding share capital immediately after the completion of the transaction.

Jupai Holdings (JP) is a 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.