Chinese buyout provides instructive exit interview

KANZHUN

22/06/2021 05:16

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Jennifer Hughes
    HONG KONG, June 22 (Reuters Breakingviews) - After months of
talks, Japan’s Recruit is backing a $5.7 bln privatisation of
employment portal 51job. Growth is patchy while rival Kanzhun’s
shares have soared following its IPO. It’s a timely reminder of
the occupational hazards for investors in U.S.-listed Chinese
companies.     
    Full view will be published shortly.
    Follow @JennHughes13 https://twitter.com/JennHughes13 on
Twitter
    
    CONTEXT NEWS
    - Chinese job search site 51job said on June 21 that a
preliminary offer in September to take it private at $79.05 a
share had become a definitive agreement at that price. 
    - The news followed support for the deal from Japanese human
resources group Recruit, a 35% shareholder, which would keep its
51job stake after the proposed privatisation.     
    - For previous columns by the author, Reuters customers can
click on  HUGHES/ 
 

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
51job statement     https://ir.51job.com/ir/php/2021/PreRelease20210621.php?0621
China's 51job to go private in $5.7 bln deal     urn:newsml:reuters.com:*:nL3N2O333I
BREAKINGVIEWS-Capital Calls: China’s $5 bln jobs buyout ekes
past first round     urn:newsml:reuters.com:*:nL4N2MS0NG
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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 | Editing by Jeffrey Goldfarb and Katrina Hamlin)
 ((jennifer.hughes@thomsonreuters.com; Reuters Messaging:
jennifer.hughes.thomsonreuters.com@reuters.net))