Zhaopin Limited Sets off For a Pricing of Initial Public Offering.
A leading career platform in china, Zhaopin Limited (“Zhapoin” or the “Company”, has recently announced that it has priced its initial public offering for a total of 5,160,000 American depositary shares (ADSs), each representing two Class A ordinary shares of the Company, at US$13.50 per ADS for a total offering size of US$75.5 million, assuming the underwriters do not decide to exercise their option to purchase additional ADSs. The ADs are expected to begin trading on the New York Stock Exchange (“NYSE”) under the ticker symbol “ZPIN”.
The underwriters have been granted an option, exercisable within 30 days from the date of the final prospectus, to purchase up to 841,500 additional ADSs from the Company at US$13.50 per ADS.
The Company also expects to receive an additional net proceeds estimated to amount around US$14.1 million from the issuance of 2,222,222 Class A ordinary shares of the Company at the initial offering price adjusted to reflect the ADS-to-ordinary share ratio to PCV Belge SCS, a vehicle advised by the private equity firm Apax Partners, through a private placement concurrently with, and subject to, the completion of the initial public offering.
Credit Suisse Securities (USA) LLC and UBS Securities LLC acted as joint bookrunners for the offering.
Zhaopin’s registration statement relating to the initial public offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement.