Kanzhun Limited initiates $200 million share buyback
2076
+9.24%
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BEIJING – Kanzhun Limited (NASDAQ:BZ; HKEX:2076), the operator of BOSS Zhipin, a prominent online recruitment platform in China, has announced the launch of a new share repurchase program. Starting on March 20, 2024, the company is authorized to buy back up to $200 million of its shares, including American depositary shares, over the following 12 months.
The repurchases will be conducted on the open market at prevailing prices, through privately negotiated transactions, block trades, and other legal methods, subject to market conditions and regulatory requirements. Kanzhun’s board of directors plans to periodically review and potentially adjust the program’s terms and scale.
This strategic move comes as part of KANZHUN’s efforts to enhance shareholder value. The company’s leadership has expressed confidence in its financial health and prospects, prompting the decision to allocate substantial capital for share repurchases.
The information is based on a press release statement from KANZHUN LIMITED.
