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KANZHUN LIMITED Continues Share Repurchase Program, Buying Back RMB1.4 Billion Worth of Ordinary Shares

1. BOSS Zhipin repurchased over 6.2 million shares in November worth RMB300 million. 2. Year-to-date, the company bought back 28.2 million shares valued at USD200 million. 3. New share repurchase program allows additional USD150 million for buybacks next year. 4. Management shows confidence in long-term growth through these repurchases. 5. BOSS Zhipin leads China's online recruitment market with innovative Direct Recruitment Model.

Shares Buyback
+7.31%Current Return
VS
+0.62%S&P 500
$12.5811/28 11:10 AM EDTEvent Start
$13.511/29 05:11 PM EDTLatest Updated
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FAQ

Why Bullish?

The stock repurchase signals management's confidence, often boosting stock prices. Similar buyback actions in tech firms led to price appreciation.

How important is it?

The buyback program suggests strong company fundamentals, likely influencing investor sentiment significantly.

Why Short Term?

Immediate market perception of buybacks may increase stock price soon. Past examples show buybacks typically influence prices quickly.

Related Companies

KANZHUNBOSS Zhipin
BEIJING, Nov. 29, 2024 (GLOBE NEWSWIRE) -- KANZHUN LIMITED (“BOSS Zhipin” or the “Company”), a leading online recruitment platform in China, today announced that it has repurchased more than 6.2 million ordinary shares in November, valued at more than RMB300 million. Year-to-date, the Company has bought back approximately 28.2 million ordinary shares, amounting to more than RMB1.4 billion (USD200 million), representing 3% of total share capital. The Company announced a new share repurchase program effective from August 29, 2024 for a 12-month period, under which the Company may additionally repurchase up to USD150 million of its shares (including in the form of American depositary shares). This new share repurchase program operates in conjunction with the existing share repurchase program that became effective on March 20, 2024, also for a 12-month period, under which the Company may repurchase up to USD200 million of its shares (including in the form of ADSs). As of today, the Company had fully utilized the USD200 million under the prior program and will now proceed with share repurchases under the USD150 million program. These repurchase efforts underscore the management's strong confidence in the Company’s long-term growth and development. BOSS Zhipin, founded in 2014, is the largest online recruitment platform in China and a pioneer in introducing a next-generation Direct Recruitment Model, which is transforming China’s online recruitment industry. This innovative, mobile-native product facilitates instant, direct communication between recruiters and job seekers, ensuring accurate matching results through its proprietary recommendation algorithms powered by advanced big data and market insights. BOSS Zhipin’s business model highlights its strong profitability, exceptional growth potential, and leading market position.

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