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Seek, Internet Job Site, Raises A$162.3 Million From
Share Sale
April 17 -- Seek Ltd., Australia's biggest Internet job
site, said it raised A$162.3 million ($125 million) in an initial public
offering, selling the stock at the upper end of its price range.
The Melbourne-based company sold 77.3 million shares to retail and
institutional investors at A$2.10 each, it said in a statement today. Seek
initially offered shares at between A$1.80 to A$2.20 apiece.
Australian billionaire Kerry Packer's Publishing & Broadcasting Ltd. paid
A$33 million for a 25 percent stake in 2003 and will retain those shares,
according to sale documents. The shares are now worth about A$147 million.
Packer's son James has been appointed chairman of Seek.
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