Kanzhun, a leading online recruitment platform in China, raised $912 million by offering 48 million ADSs at $19, the high end of the range of $17 to $19. New and existing investors had indicated on up to $375 million worth of ADSs in the offering.
Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. Kanzhun was China's largest online recruitment platform by MAUs in 2020 with 20 million MAUs. The company states that it uses data insights to deliver more accurate matching results.
Kanzhun plans to list on the Nasdaq under the symbol BZ. Goldman Sachs, Morgan Stanley, UBS Investment Bank, and China Renaissance acted as lead managers on the deal.
