KANZHUN LIMITED Sets Competitive Pricing for Share Offering
KANZHUN LIMITED Unveils Share Offering Details
Recently, KANZHUN LIMITED, known for its online recruitment platform BOSS Zhipin, revealed the pricing of its latest share offer. This initiative includes a total of 34,500,000 Class A ordinary shares, which signifies an ambitious step for the company in enhancing its financial positioning in the market.
Pricing and Offer Structure
The final offer price for the shares has been established at HK$66.00 each. To provide perspective, this rate translates to approximately US$16.82 per American Depositary Share (ADS), using an exchange rate of HK$7.8499 to US$1.00. This decision reflects the company’s commitment to fostering strong relationships with its investors, highlighting gratitude for their involvement.
Expected Trading Initiation
If approved by the relevant stock exchange, trading of these Class A ordinary shares is anticipated to commence on the Main Board of the Hong Kong Stock Exchange shortly after the closure of the share offering.
Uses of Proceeds from the Offering
The proceeds from this share offering, estimated at approximately HK$2,199.9 million (roughly US$280.3 million), will serve multiple purposes. These include investments in technology and infrastructure, launching new business initiatives, potential acquisitions, and supporting the company’s general working capital needs. Such strategic maneuvers are aimed at enhancing KANZHUN's overall growth trajectory.
Key Coordinators and Management
Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited are acting as the primary coordinators for this share offer. Their partnership signifies confidence in KANZHUN’s strategic plans, with both institutions also serving as the joint global coordinators alongside Huatai Financial Holdings (Hong Kong) Limited. This collaboration showcases a strong management team geared towards achieving successful funding.
The International Offering Process
The share offering will be available through a preliminary prospectus supplement followed by the final prospectus, ensuring that potential investors receive comprehensive information. This dedicated approach demonstrates the company’s transparency and commitment to a well-structured offering.
About KANZHUN LIMITED
KANZHUN LIMITED, the company behind the innovative BOSS Zhipin platform, continues to redefine recruitment in China. By facilitating seamless connections between job seekers and employers, it fosters efficient interactions through its user-friendly mobile application. Focusing on intelligent recommendations, KANZHUN is dedicated to driving engagement and improving recruitment mechanisms.
Frequently Asked Questions
What is KANZHUN LIMITED's share offering structure?
KANZHUN is offering 34,500,000 Class A ordinary shares, including an option for additional shares based on investor demand.
What is the price of KANZHUN's shares in the offering?
The shares are priced at HK$66.00 each, translating to about US$16.82 per ADS.
When will trading commence for these shares?
Trading is expected to begin on the Main Board of the Hong Kong Stock Exchange shortly after the offering closes.
How will the proceeds be utilized?
Proceeds will enhance technology investments, support new business initiatives, and generally improve the company’s financial flexibility.
Who are the main coordinators for this share offering?
Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited, and Huatai Financial Holdings (Hong Kong) Limited are the key coordinators.
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