51job stock set to surge after buyout bid valuing company at $5.3 billion

(Market Watch) – Shares of 51job Inc. JOB, +1.98% were indicated up nearly 9% in premarket trading Thursday, after the China-based human resources services company said it has received an unsolicited buyout bid from DCP Capital Partners for $79.05 a share in cash.

That bid price represents a 16% premium to Wednesday’s stock closing price of $68.12, and would value the company at about $5.31 billion. 51job said it plans to evaluate the proposed deal, and said there is no assurance that a deal will be made.

The stock has dropped 19.8% year to date through Wednesday, while the iShares MSCI China ETF MCHI, -0.34% has rallied 16.3% and the S&P 500 SPX, -0.46% has gained 4.8%.

Snowflake Inc.’s stock undefined looks set to debut with a bang, as early indications for the first trade continue to creep higher. The software company’s stock is indicated to open on the NYSE at around $215 to $220, according to FactSet data, which is 79.2% to 83.3% above the $120 IPO price.

The IPO had already priced overnight above the expected range of $100 to $110 a share, which was raised from initial expectations of $75 to $85 share. Meanwhile, the Renaissance IPO ETF undefined is gaining 0.6% in morning trading, while the S&P 500 undefined is edging up 0.6%.

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