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SEEK Says Sale Process of SEEK Growth Fund's Stake in Employment Hero Still in Progress, Shares Plunge 15%

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SEEK (ASX:SEK) said the sale process of the SEEK Growth Fund's stake in Employment Hero is still in progress, according to a Wednesday Australian bourse filing.

The trustee board is also in talks with the fund's manager on strategy and priorities, including investment plans for the fund's next phase, likely including the near-term sale of investments valued at over AU$1 billion, and incentives that support ongoing liquidity.

It said it would provide further details once the arrangements are finalized, which is expected to be before the end of the year.

SEEK's shares tumbled 15% in recent trading on Wednesday.

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