Zhaopin.com job site gets ready for IPO
Australian online job ad company Seek Ltd is preparing its Chinese online jobs business Zhaopin Ltd for an initial public offering in New York, betting it will gain an edge over its rivals in the world's second-largest economy.
Zhaopin Ltd filed a registration statement with the US Securities and Exchange Commission on Monday, and it plans to go public on the New York Stock Exchange. But it didn't disclose how many shares it planned to sell or the expected listing price.
"A US listing significantly increases the credibility of a company, because it requires the company to be more transparent with its business activities and financial figures," said James Darlington, head of Asia for Antal Business Consulting Co Ltd, a United Kingdom-based recruitment consulting firm.
