SEEK's China subsidiary in takeover play

Two China-based investment firms have made a takeover play for job search site SEEK's Chinese subsidiary.

Job search company SEEK's Chinese subsidiary has received a takeover offer from two China-based investment firms.

SEEK's subsidiary Zhaopin, which was floated on the New York Stock Exchange in mid-2014, received the preliminary non-binding offer from CDH V Management Company Limited and Shanghai Goliath Investment Management.

The pair want to buy all the outstanding stock not owned by SEEK International Investments for $US17.50 in cash per American depositary share, or $US8.75 per ordinary share.

"SEEK expects the proposed buying group will endeavour to negotiate arrangements with SEEK for the future management of Zhaopin," SEEK said in a statement on Wednesday.