RTTNews | Nov 8, 2021 12:53PM EST

10:47 Monday, November 8, 2021 (RTTNews.com) - Shares of Chinese human resource services provider 51job, Inc. (JOBS) fell more than 19% Monday morning at $54.

The company today said the recent regulatory changes in China may be applicable to its proposed plan to go private with the acquisition by a consortium of Chinese investors.

Members of the buyer consortium that formed Garnet Faith Limited to acquire the company have been in consultation with Chinese regulators regarding this matter and a clear timeline to its completion cannot be provided at this time, 51job said.

The company is expected to file an updated Schedule 13E-3 Transaction Statement, subject to the progress of the consultation process.

JOBS has traded in the range of $50.61- $79 in the last one year.

Read the original article on RTTNews ( https://www.rttnews.com/3240449/51job-slips-as-going-private-in-limbo-after-china-s-regulatory-changes.aspx)

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