Kanzhun Limited announced on November 29, 2024, that it has fully utilized its existing share repurchase program, which authorized repurchases of up to US$200 million of its shares and became effective on March 20, 2024. The company repurchased more than 6.2 million ordinary shares in November, valued at over RMB300 million.
Year-to-date, Kanzhun has bought back approximately 28.2 million ordinary shares, amounting to more than RMB1.4 billion (US$200 million), representing 3% of its total share capital. This aggressive repurchase activity underscores management's strong confidence in the company's long-term growth and development.
The company will now proceed with share repurchases under a new program, effective from August 29, 2024, for a 12-month period, authorizing the repurchase of up to an additional US$150 million of its shares. This new program operates in conjunction with the previously utilized program, demonstrating a continued commitment to shareholder returns.
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