Seek in search of ASX supporters
Recruitment website Seek may raise up to $170 million in capital through a listing on the Australian Stock Exchange next month. The listing may value the company at $560 million. Seek estimates spending on online recruitment in Australia at $100 million, but is yet to disclose its own revenues. Seek expects earnings before interest, tax, depreciation and amortisation in the year to June 2005 will reach $40 million – nearly triple the EBITDA recorded in 2004.