Deals
Zhaopin Rallies on Sequoia-Backed Bid for Chinese Job Recruiter
- Trading volume surges to almost 9 times three-month average
- Offer is part of a record wave of going-private proposals
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Zhaopin Ltd. rallied the most since January as Sequoia China Investment Management joined the Chinese online employment recruiter’s management to take the company private in a bid that exceeded a previous offer.
The American depositary receipts jumped 7.6 percent to $16.05 on Thursday in New York. Trading volume of about 600,000 shares was almost nine times the daily average of the past three months. It was the best performance in the Bloomberg-China Equity Index, which rose 0.2 percent.