No debating SEK has a great market position in Australia as well...

No debating SEK has a great market position in Australia as well as parts of Asia, question is valuation.

I noticed Zhaopin’s closest domestic competitor 51Job recently announced that the outstanding takeover proposal for the company has been reduced from US$79.05 per share to US$57.25 per share. The acquiring consortium pointing to a number of factors leading to a lower consideration (macroeconomic and general market conditions and tightening of regulatory policies across industries in China which is expected to have an impact on recruitment demand were two reasons sighted). The new consideration implies a CY21 EV/EBITDA of ~11x on consensus estimates, down from ~18x under the previous offer. Sell side assume a range of 20-25x for Seek’s remaining stake in Zhaopin in there SOTP models.

With big share price falls since in US for technology stocks, particular loss making ones, the other question is what is the true valuation for their stake in SEK Ventures? Get hurt if IPOs dry up for these types of businesses.

Looks like a sell on valuation grounds for me.