Chinese recruitment platform Kanzhun falls after launching stock offering

KANZHUN

24/06/2025 14:37

** U.S.-listed shares of Chinese recruitment platform Kanzhun BZ.O fall 2% to $17.32 in early trading

** BZ announces launch of a stock offering of 30 million ordinary shares, consisting of an international offering of 27 million shares and a Hong Kong public offering of 3 million shares

** BZ's Nasdaq-listed American depositary shares (ADSs) closed down 0.8% at $17.31 on Monday

 ** The maximum offer price for Hong Kong public offering is HK$78 per ordinary share, or $19.87 per ADS - BZ

** Goldman Sachs and Morgan Stanley are the joint overall coordinators for the stock offering

** Proceeds will be used for technology investment, acquisitions, and other purposes

** 18 of 20 brokerages rate the stock "buy" or higher and 2 "hold"; median PT $21 - data compiled by LSEG

** As of last close, BZ stock up 28.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))