Credit Suisse Securities and UBS Securities will be joint bookrunners
By Devika Patel
Knoxville, Tenn., June 12 – Zhaopin Ltd. said it priced its $75.74 million initial public sale of American Depositary Shares with an $11.36 million greenshoe.
The company will sell 5.61 million ADSs at $13.50 apiece. Each ADS represents two ordinary shares.
Credit Suisse Securities (USA) LLC and UBS Securities LLC are the joint bookrunners.
Settlement is expected June 17.
Proceeds will be used for expansion, product development, upgrades, working capital and general corporate purposes, including investments and potential acquisitions.
The company also said it will raise about $14.1 million by selling 2,222,222 class A ordinary shares to PCV Belge SCS in a private placement.
The Beijing company operates a career-focused website in China. The company has applied to list the ADSs on the NYSE exchange under the symbol “ZPIN.”
| Issuer: | Zhaopin Ltd.
|
| Issue: | American Depositary Shares, each representing two ordinary shares
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| Amount: | $75,735,000
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| Greenshoe: | $11,360,250
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| ADS: | 5.61 million
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| Price: | $13.50
|
| Warrants: | No
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| Bookrunners: | Credit Suisse Securities (USA) LLC and UBS Securities LLC
|
| Pricing date: | June 12
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| Settlement date: | June 17
|
| Stock exchange: | NYSE: ZPIN
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