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Chinese career site Zhaopin sets terms for $76 million IPO

By: Renaissance Capital
Posted: 6/2/2014 6:54:00 PM
Referenced Stocks: ZPIN

Zhaopin, which operates China's most popular career website, announced terms for its IPO on Monday. The Beijing, China-based company plans to raise $76 million by offering 5.6 million shares at a price range of $12.50 to $14.50. At the midpoint of the proposed range, it would command a fully diluted market value of $746 million.

Zhaopin, which was founded in 1997 and booked $154 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol ZPIN. It initially filed confidentially on February 21, 2014. Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price the week of June 9, 2014.