Kanzhun announces pricing of share offer

KANZHUN (BZ) announced the pricing of its share offer of an aggregate of 34,500,000 Class A ordinary shares of the Company, including 4,500,000 Class A ordinary shares offered pursuant to the Company’s full exercise of the offer size adjustment option. The Share Offer is comprised of a Hong Kong public offering, and an international offering. The final offer price for both the Hong Kong Public Offering and the International Offering has been set as HK$66.00 per share. Based on the ratio of two Class A ordinary shares per Nasdaq-listed American depositary share and an exchange rate of HK$7.8499 to $1.00, the Offer Price translates to approximately $16.82 per ADS. The final offer price has been set by the Company out of sincerity, and the Company would like to express gratitude to its investors for their participation in the share offer. Subject to approval from the Stock Exchange of Hong Kong, the Class A ordinary shares of the Company are expected to begin dealing on the Main Board of the Hong Kong Stock Exchange on Friday, July 4. The Share Offer is expected to close on the same day, subject to customary closing conditions. Based on the Offer Price, the net proceeds from the Share Offer is estimated to be approximately HK$2,199.9M, after deducting estimated underwriting fees and other expenses payable, based on an exchange rate of HK$7.8499to $1.00. The Share Offer is intended to further enhance the Company’s financial flexibility, broaden its shareholder base, improve stock liquidity, and support its healthy and sustainable development. The net proceeds from the Share Offer will be used in investment in technology and related infrastructure, the development of new business initiatives, strategic acquisitions or investment opportunities and for working capital and general corporate purposes. Goldman Sachs and Morgan Stanley Asia act as the overall coordinators for the Share Offer. Goldman Sachs, Morgan Stanley Asia and Huatai Financial act as the joint global coordinators for the Share Offer. Goldman Sachs., Morgan Stanley Asia, Huatai Financial, Futu Securities International and Tiger Brokers Global Limited act as joint bookrunners and joint lead managers for the Share Offer.