Seek to float Chinese subsidiary in the US

Seek has announced it will float its Chinese subsidary Zhaopin on the New York Stock Exchange.

Employment classifieds business Seek will list its Chinese subsidiary Zhaopin on the New York Stock Exchange.

Seek will launch an initial public offering for Zhaopin in the United States, but did not disclose the value of the offer or when it is due to go ahead.

Zhaopin is the second largest online recruitment services provider in China, which Seek believes is set to become the world's biggest online employment market place.

Seek paid $US132.8 million in February last year to increase its stake in Zhapoin from 55.5 per cent to 78.2 per cent.

Jason Lenga, the managing director of Seek International, has been appointed chairman of Zhaopin.


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Source: AAP


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