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Zhaopin Limited Announces Exercise of Green Shoe

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SOURCE Zhaopin Limited

BEIJING, July 2, 2014 /PRNewswire/ -- Zhaopin Limited (NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career platform in China, today announced that the underwriters of its initial public offering ("IPO") exercised in full their option to purchase up to 841,500 additional American depositary shares ("ADSs") at the IPO price of US$13.50 per ADS.

Upon the issuance of the additional ADSs on July 2, 2014, Zhaopin has a total of the equivalent of 50,782,630 ADSs outstanding, comprising:

  • 5,610,000 ADSs issued as part of its IPO;
  • Shares representing the equivalent of 1,111,111 ADSs issued to PCV Belge SCS (a vehicle advised by the private equity firm Apax Partners) in the private placement completed concurrently with the IPO;
  • Shares representing the equivalent of 43,220,019 ADSs held by existing shareholders prior to the IPO; and
  • 841,500 ADSs issued as a result of the underwriters exercising their over-allotment option.

The total capital raised after the underwriters' exercise of their over-allotment option is US$102,095,248.5 before discounts, fees and expenses. Zhaopin's registration statement relating to the IPO has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Zhaopin Limited

Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career-focused website in China as measured by average daily unique visitors in each month of 2013. Zhaopin is the second largest online recruitment services provider as measured by revenues in 2013. The Company's over 77 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the nine months ended March 31, 2014, approximately 11.4 million job postings were placed on Zhaopin's platform by 274,450 employers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Zhaopin may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Zhaopin's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Zhaopin's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow itsuserand customer base for itsonline career platform; the growth of, and trends in, the markets for itsservices in China; the demand for and market acceptance of its brand and services; competition in itsindustry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect itsusers' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Zhaopin does not undertake any obligation to update such information, except as required under applicable law.

For more information, please contact:

Zhaopin Limited
Ms. Jessica Ye
Senior Director
Corporate Finance& Investor Relations
ir@zhaopin.com.cn

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

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