(Adds background, details)
May 5 Chinese jobs website operator Zhaopin Ltd
filed with U.S. regulators to raise up to $100 million in an
initial public offering of American depositary shares.
SEEK International Investments Pty Ltd, controlled by SEEK
Ltd, which provides online employment advertising,
training courses and invests in online employment marketplaces,
holds 79 percent of Zhaopin shares.
Beijing-based Zhaopin operates zhaopin.com and was China's
second-largest online recruitment services provider by 2013
revenue, the company said on Monday citing market research firm
iResearch Public Data.
Zhaopin said it reported a loss of RMB 20.51 ($3.28) per
share for the year ended June 30, 2013, compared with a profit
of RMB 1.68 per share a year earlier.
The company told the U.S. Securities and Exchange Commission
in a preliminary prospectus that Credit Suisse and UBS
Investment Bank were underwriting the IPO. (r.reuters.com/cev98v)
Zhaopin said it planned to use the proceeds from the
offering to repay debt, expanding into more markets, develop
products and to upgrade its website.
The filing did not reveal how many shares the company
planned to sell or their expected price.
The company intends to list its common stock on the New York
Stock Exchange under the symbol "ZPIN".
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.
($1 = 6.2455 Chinese Yuan)
(Reporting by Amrutha Gayathri in Bangalore; Editing by Joyjeet