Recently Public Zhaopin Ltd (ADR) (ZPIN) – New Position in Tiger Global Management’s Equity Portfolio

In a new filing with the Securities and Exchange Commission, Chase Coleman‘s Tiger Global Management has revealed a new stake in the recently public company Zhaopin Ltd (ADR) (NYSE:ZPIN). According to the filing, Tiger Global owns around 2.50 million shares of the company, the passive stake accounting for 18.6% of Zhaopin’s class A stock.

TIGER GLOBAL MANAGEMENT LLC

The company went public last week, and since then its stock gained almost 11%, while on Tuesday it is already up by around 10.5%. Zhaopin Ltd (ADR) (NYSE:ZPIN) is a holding company which operates a career platform in China, owning the zhaopin.com career-oriented website. The company is also engaged in providing a number of human resources related services, such as online and campus recruitment.

Zhaopin Ltd (ADR) (NYSE:ZPIN) has commenced its initial public offering on June 12 issuing a total of 5.61 American Depositary Shares (ADS), each representing two class A shares of the company. The securities have been sold at $13.50 per ADS, the total value of the offering amounting to $75.7 million, excluding over-allotment options. In addition the company plans to sell 841,500 additional ADSs as over-allotment options and 2.22 million class A ordinary shares at the IPO price to PCV Belge SCS through a private placement, according to a statement. The main shareholders of the company before the IPO were SEEK International Investments Pty Ltd, which held 68.26 million shares, equal to a 79% stake, and Cavalane Holdings Pty Limited with around 16.67 million shares, or 19.3% of the stock.

According to Tiger Global Management’s latest 13F filing, the fund has been bullish on several Chinese companies during the first quarter of the year. In Vipshop Holdings Ltd – ADR (NYSE:VIPS), the fund has surged its stake by 53% to 2.24 million shares, the $334.25 million stake amassing 4.5% of the total equity portfolio. In 58.com Inc (ADR) (NYSE:WUBA), Tiger Global has increased its exposure by more than 300% to 1.26 million shares.

Disclosure: none

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