KANZHUN LIMITED Unveils New Share Repurchase Program
KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (NASDAQ: BZ; HKEX: 2076), a prominent online recruitment platform in China, has announced that its board of directors has approved a new share repurchase program. This initiative is set to begin soon and will be active for a period of 12 months, enabling the Company to buy back up to US$150 million worth of its own shares. This move reflects the Company's strong belief in its potential for future growth.
Overview of the Share Repurchase Program
The newly authorized share repurchase program will complement the existing one that was initiated earlier this year, which permits an additional repurchase of shares up to US$200 million within the same 12-month timeframe. The Company has indicated that shares may be repurchased sporadically on the open market at current market prices. Various methods may be utilized for these repurchases, including privately negotiated transactions, block trades, and other legal avenues, all of which will be influenced by market conditions and relevant regulations.
About KANZHUN LIMITED
KANZHUN LIMITED operates BOSS Zhipin, the leading online recruitment platform in China. The Company excels at connecting job seekers with businesses through a highly interactive mobile application. This innovative platform encourages two-way communication, facilitates intelligent recommendations, and transforms the online recruitment process. By leveraging its extensive and diverse user base, BOSS Zhipin effectively capitalizes on powerful network effects that boost recruitment efficiency and support rapid growth in the competitive job market.
Growth and Market Position
The decision to engage in share repurchases underscores the strong growth trajectory that KANZHUN LIMITED anticipates. By investing in its own shares, the Company not only showcases its faith in its operational strategies but also conveys to shareholders the importance it places on its stock. This strategic approach is expected to enhance shareholder value over time, positioning KANZHUN LIMITED advantageously among its competitors in the market.
Future Prospects
As KANZHUN LIMITED looks ahead, it aims to sustain its significant growth in the online recruitment sector, supported by its effective use of technology and a user-friendly approach. Continuous improvements to its platform are a priority, ensuring that both job seekers and companies enjoy a smooth recruitment experience. The Company's commitment to innovation and its ability to adapt to market demands will be vital to its ongoing success.
Contact Information
For inquiries from investors and the media, KANZHUN LIMITED encourages reaching out through the following:
KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com
PIACENTE FINANCIAL COMMUNICATIONS
Email: kanzhun@tpg-ir.com
Frequently Asked Questions
What is the new share repurchase program by KANZHUN LIMITED?
The new share repurchase program allows KANZHUN LIMITED to buy back up to US$150 million in shares over a 12-month period as a sign of confidence in its growth.
How does the new repurchase program relate to the existing one?
The new program will operate alongside an existing repurchase program that allows for up to US$200 million in shares also over a 12-month duration.
What platforms does KANZHUN LIMITED operate?
KANZHUN LIMITED operates BOSS Zhipin, a key online recruitment platform designed to connect job seekers with enterprises efficiently.
What methods will KANZHUN LIMITED use for share repurchases?
The Company may repurchase shares through open market transactions, privately negotiated deals, block trades, and other legally permissible means, depending on market conditions.
How can investors contact KANZHUN LIMITED?
Investors can reach out for inquiries at ir@kanzhun.com or kanzhun@tpg-ir.com for investor and media communications.
