Stock Track | Kanzhun Shares Soar on Share Buyback Under Incentive Scheme

Stock Track09-26

Shares of Kanzhun Limited (HKG:2076), the operator of online recruitment platform BOSS Zhipin, surged 6.86% on Thursday, after the company announced that a trustee bought back shares under its post-IPO share incentive scheme.

According to a filing with the Hong Kong Stock Exchange, the trustee purchased 348,624 class A ordinary shares, or 174,312 American Depository Shares (ADSs), at a price of $7.14 per share. The repurchased shares represent 0.04% of Kanzhun's enlarged issued share capital.

The share buyback program is seen as a vote of confidence in the company's future prospects and a positive signal to investors. By reducing the number of outstanding shares, the buyback increases the value of remaining shares and can support the stock price.

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