Buyout Group Slashes Offer for 51Job, Others to Follow?

Human resources stalwart announces new privatization bid at $57.25 per ADS, down sharply from previous offer of $79.05 Key Takeaways: A buyout group attempting to privatize 51Job has slashed its offer by 28% in light of economic and regulatory challenges Other companies in the process of similar privatizations, such as So-Young, iClick and Fanhua, could follow with similar reduced offers By Doug Young Brother, can you spare $22? That variation to the famous line from the Great Depression-era song could well be the latest mantra from online human resources stalwart…

Read More »

FAST NEWS: 51job Shares Plunge on Privatization Doubts

The latest: Online recruitment site operator 51job Inc. (JOBS.US) said a group bidding to privatize the company is “in consultation with Chinese regulators on recent regulatory changes in China that may be applicable to the company and the proposed transaction.” It did not comment further on the nature of the regulatory changes, and added a timeline for completion of the consultations “cannot be provided at this time.” Looking Up: 51job first received the privatization offer a year ago, and had previously said the deal was expected to close by the…

Read More »

Internet Stalwart 51job Shrugs Off Investors Ahead of Wall Street Exit

Company’s latest earnings show its quarterly profit dived on soaring marketing costs, as it anticipates ending its 17-year run on Wall Street by year-end Key Takeaways: •      51job’s second quarter results could be its last as a listed company as it anticipates completing a year-old privatization bid by the end of this year •      Company remains a major force in China’s online recruitment industry, though was recently overtaken for the top spot by the younger Kanzhun By Thomas Zhang It’s been a miserable summer for U.S.-listed Chinese companies, many of…

Read More »

Employment Specialist Kanzhun Shows It’s Down, But Not Out, With First-Ever Profit

Company posts 174% revenue jump in second quarter, but warns an ongoing cybersecurity review is likely to continue through at least the end of September Key takeaways: Kanzhun has posted its first-ever quarterly profit, fueled by a 174% jump in revenue Company warns that a cybersecurity review and concurrent freeze on new user signups is affecting its business, and could last through at least the end of September By Doug Young The maiden quarterly earnings report from leading online jobs specialist Kanzhun Ltd. (BZ.US), best known in China for its…

Read More »