智聯招聘母公司Seek將增持智聯股份

Seek Ltd. is spending US$105 million to raise its stake in Zhaopin Ltd., in the latest step toward an initial public offering of the Chinese employment website.

Seek Ltd.即將斥資1.05億美元增持中國招聘網站智聯招聘(Zhaopin Ltd.)，這是該公司爲實現智聯招聘首次公開募股(IPO)邁出的最新一步。

The ASX-listed online job advertiser said in a stock exchange filing Friday that it’s buying shares from Macquarie Group Ltd. -0.85% and other investors in order to raise its stake in Zhaopin from 55.5% to 72.3%.

同爲招聘網站的Seek是澳大利亞交易所(ASX)上市公司。該公司在週五提交給交易所的備案材料裏說，它將從麥格理集團(Macquarie Group Ltd.)和其他投資者手中購買股份，將自己在智聯招聘的持股比例從55.5%提高到72.3%。

Of that, $55 million will be funded from Zhaopin’s cash balance, while the rest will come from Seek’s cash and debt facilities. At the end of last year, the Chinese online market place operator had around $122 million in cash, Seek said.

用於增持的資金當中，將有5,500萬美元來自智聯招聘的現金餘額，其餘來自Seek的現金和債務融資。Seek說，去年年底智聯招聘擁有約1.22億美元的現金。

Moreover, Seek plans to raise its controlling interest further to 79% by buying more shares from other investors, and possibly take that even higher next year.

另外，Seek還打算從其他投資者手中購買更多股份，從而將持股比例進一步提升至79%，明年甚至還有可能將持股比例提至更高。

The deal is an important step for Seek to make good on its long-standing aim to take Zhaopin public a move that has been delayed as the Chinese company expands into new cities and markets.

這次增持是Seek爲實現很久以來讓智聯招聘上市的目標而邁出的重要一步。上市計劃在智聯招聘向新城市和新市場擴張的過程中被推遲。

“The simplification of Zhaopin’s capital structure will assist in its potential progression to an IPO,” Seek Managing Director Jason Lenga said in a statement. “As China’s urbanization and internet penetration increases, we expect it will be the world’s largest online employment marketplace.”

Seek的董事總經理倫加(Jason Lenga)發表聲明說，簡化智聯招聘資本結構將有助於智聯招聘向IPO的方向前進。他說，隨着中國城鎮化和互聯網滲透率的上升，我們預計它將成爲世界上最大的網絡招聘市常

The deal implies Zhaopin has an enterprise value of around US$558 million 16 times the company’s earnings before interest, taxes, depreciation and amortization compared to the US$700 million to US$900 million that Morgan Stanley MS +3.67% analyst Andrew McLeod estimated it was worth in March.

這次增持將智聯招聘的企業價值評估爲5.58億美元左右，是該公司息稅折舊及攤銷前利潤(EBITDA)的16倍。據摩根士丹利(Morgan Stanley)分析師麥克勞德(Andrew McLeod)在2012年3月份的估計，智聯招聘的企業價值在7億美元到9億美元之間。

Investors welcomed the news, sending Seek shares up 2.8% to an eight-month high of A$7.48.

增持消息受到投資者的歡迎，Seek股價上漲2.8%至7.48澳元，達到八個月最高。

Seek’s latest move comes as it expands its global footprint by raising stakes in other international businesses. Last month, the company announced it would buy the remaining shares in JobsDB, following similar moves in Mexico and Brazil earlier in the year.

在邁出最近這一步的同時，Seek也在通過增持其他國際企業擴大全球足跡。該公司上個月宣佈將收購JobsDB剩餘股份，今年早些時候也在墨西哥和巴西採取了類似措施。

Morgan Stanley reckons total online revenue for the industry will reach US$3.6 billion by 2015, at which time Zhaopin will have an estimated 42% share of the market, up from 24% in 2012.

摩根士丹利估計，到2015年，中國招聘行業線上收入總額將達到36億美元，屆時智聯招聘的市場份額估計將從2012年的24%增至42%。