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China – Recruitment platform Kanzhun seeks up to $912 million in US IPO (Bloomberg)

07 June 2021

Kanzhun Limited, whose core product is job board Boss Zhipin, is looking to raise as much as USD 912 million in its US initial public offering, reports Bloomberg. Boss Zhipin is a mobile platform that allows employers to interact and connect with job seekers through direct chat. Kanzhun, backed by Chinese internet giant Tencent Holdings Ltd., is offering 48 million American depositary shares at between USD 17 and USD 19 apiece, according to a filing with the US Securities and Exchange Commission. Each ADS represents two ordinary shares. If the company prices the stock at the top end of the range, it will be the biggest IPO by a Chinese company in the US since software firm Tuya Inc’s $947 million offering in March, data compiled by Bloomberg show. Kanzhun first announced in May that it would file for a US IPO.

According to SIA’s Online Job Advertising 2020 research report, Boss Zhipin is the 19th largest online job advertising firm globally.