Tencent-Backed Kanzhun Limited Has Just Gone Public. Here's What Investors Should Know
Investors in Kanzhun's (NASDAQ: BZ) IPO are laughing all the way to the bank. Shares of the online recruitment platform operator have more than doubled since Kanzhun -- known as Boss Zhipin in China -- made its trading debut two weeks ago.
Kanzhun began trading on the Nasdaq on June 12 after raising $912 million from investors, including UBS Asset Management and Tiger Global Investments. The company sold 48 million American Depositary Shares (ADSs) at $19 a share, at the top of the $17 to $19 range marketed to investors.
Interestingly, Kanzhun's main backers include tech titan Tencent (OTC: TCEHY) and Capital Today, a Chinese venture capitalist known for being an early investor in JD.com and NetEase. Post-IPO, Capital Today owns 10.4% of Kanzhun -- making it the company's biggest external investor. Tencent is Kanzhun's second-biggest outside shareholder, with an 8.6% stake.
Source Fool.com
