KANZHUN prices Hong Kong share offer at HK$66 per share

BEIJING - Chinese online recruitment platform KANZHUN LIMITED (NASDAQ:BZ; HKEX:2076), currently valued at $8 billion and maintaining a perfect Piotroski Score of 9 according to InvestingPro, announced Monday the pricing of its Hong Kong share offer at HK$66.00 per share, raising approximately HK$2,199.9 million (US$280.3 million) in net proceeds.

The share offer consists of 34,500,000 Class A ordinary shares, including 4,500,000 shares from the company’s full exercise of its offer size adjustment option. Based on the exchange rate of HK$7.8499 to US$1.00, the offer price translates to approximately US$16.82 per American depositary share (ADS), with each ADS representing two Class A ordinary shares. InvestingPro analysis suggests the stock is currently undervalued, with strong financial health metrics and a P/E ratio of 31x.

Subject to approval from the Hong Kong Stock Exchange, the company’s Class A ordinary shares are expected to begin trading on the Main Board on Friday, July 4, 2025, with the share offer closing on the same day.

KANZHUN plans to use the proceeds for investments in technology and infrastructure, development of new business initiatives, strategic acquisitions, and working capital.

Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited are serving as overall coordinators for the share offer, with Huatai Financial Holdings (Hong Kong) Limited, Futu Securities International (Hong Kong) Limited, and Tiger Brokers (HK) Global Limited acting as joint bookrunners and lead managers.

KANZHUN operates BOSS Zhipin, which the company describes as a leading online recruitment platform in China connecting job seekers and employers through its mobile app. The company boasts impressive gross profit margins of 83% and has achieved 19% revenue growth over the last twelve months, according to InvestingPro, which offers 8 additional key insights about the company’s performance.

The information in this article is based on a press release statement from the company.

In other recent news, Kanzhun Ltd has announced an upcoming board meeting, as stated in a Form 6-K filed with the Securities and Exchange Commission (SEC) on May 12, 2025. The filing, which complies with U.S. securities regulations, serves to formally announce the scheduling of the board meeting, although specific agenda items remain undisclosed. This move is part of Kanzhun’s regular compliance with SEC regulations, ensuring transparency with shareholders. Additionally, Kanzhun Ltd has set the record date for its annual general meeting of shareholders, as noted in another Form 6-K filed on May 8, 2025. This meeting will allow shareholders who own stock as of the record date to vote on various matters, although the specific agenda items have not been detailed. Such meetings typically involve discussions on financial statements, dividend declarations, and board member elections. These announcements reflect Kanzhun Ltd’s adherence to international reporting standards and regular corporate governance processes. Further details regarding the annual general meeting will be communicated to shareholders in due course.

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