Job site Zhaopin receives initial proposal to take firm private

Zhaopin Ltd, China's biggest job recruitment site, has received a non-binding offer to take the firm private, a year and a half after debuting on the New York Stock Exchange.

The company said on Wednesday it had received the preliminary proposal from affiliates of CDH Investments and Shanghai Goliath Investment Management LP.

Zhaopin said it considered the acquisition offer a fairly high valuation from the two noted investment institutions.