Boss Zhipin taps buoyant Hong Kong market with US$288 million share offering
China's largest online recruitment platform Kanzhun, also known as Boss Zhipin, said on Wednesday it had issued 30 million new class A ordinary shares in Hong Kong, the company's first public fundraising in the city since its dual primary listing in December 2022.
The offering, aimed at enhancing the company's financial flexibility and strengthening its liquidity, is expected to raise up to HK$2.26 billion (US$288 million).
The maximum issue price per share was HK$78, representing a premium of around 14.04 per cent to Tuesday's closing price of HK$68.40.
Boss Zhipin was initially listed on Nasdaq in 2021. The following year it made a Hong Kong listing by way of introduction, a method of listing when a company's shares have already been issued on another exchange.
Zhao Peng, founder and CEO of Boss Zhipin. Photo: Handout
'We were afraid that we wouldn't be able to sell our stock at that time, so we just took the step of listing it,' Zhao Peng, founder and CEO of Boss Zhipin, said at a media briefing on Wednesday. 'Since listing in Hong Kong, I have been trying to increase our liquidity in [the city] and waited for a good time [when] people were willing to buy our stock.'
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