KANZHUN LIMITED Announces up to US$150 Million Share Repurchase Program
March 09 2022 - 6:50AM
KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ), a
leading online recruitment platform in China, today announced that
the Company’s board of directors has authorized a share repurchase
program under which the Company may repurchase up to US$150 million
of its American depositary shares over the next 12
months.
The Company’s proposed repurchases may be made
from time to time in the open market at prevailing market prices,
in privately negotiated transactions, in block trades and/or
through other legally permissible means, depending on market
conditions and in accordance with applicable rules and regulations.
The Company’s board of directors will review the share repurchase
program periodically, and may authorize adjustment of its terms and
size.
Mr. Jonathan Peng Zhao, Founder, Chairman and
Chief Executive Officer of the Company, commented, “The
effectiveness of our business model has continued to be validated,
with solid profitability and robust free cash flow generation
reported for the first nine months of 2021. The share repurchase
program announced today, reflects not only the confidence we have
in our business model, but also our commitment to delivering
long-term value for our shareholders.”
About KANZHUN LIMITED
KANZHUN LIMITED operates the leading online
recruitment platform BOSS Zhipin in China. Established eight years
ago, the Company connects job seekers and enterprise users in an
efficient and seamless manner through its highly interactive mobile
app, a transformative product that promotes two-way communication,
focuses on intelligent recommendations, and creates new scenarios
in the online recruiting process. Benefiting from its large and
diverse user base, BOSS Zhipin has developed powerful network
effects to deliver higher recruitment efficiency and drive rapid
expansion.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements which are made pursuant to
the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as “will,” “expects,”
“anticipates,” “aims,” “future,” “intends,” “plans,” “believes,”
“estimates,” “likely to,” and similar statements. Statements that
are not historical facts, including statements about the Company’s
beliefs, plans, and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. Further information regarding these and other risks
is included in the Company’s filings with the SEC. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor and media inquiries, please
contact:
KANZHUN LIMITEDInvestor RelationsEmail:
ir@kanzhun.com
In China:
The Piacente Group, Inc.Helen WuTel:
+86-10-6508-0677Email: kanzhun@tpg-ir.com
In the United States:
The Piacente Group, Inc.Brandi PiacentePhone:
+1-212-481-2050Email: kanzhun@tpg-ir.com
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