Business
Seek boss slams short seller’s report as ‘littered with inaccuracies’ – Sydney Morning Herald
However, Blue Orca replied within hours stating that the Chinese business Zhaopin had removed 64 of the 66 employers on its platforms that the short seller identified…
“Recall that in the markets we sampled, these employers accounted for almost 20 per cent of the posts on these platforms, making it a significant admission of rot on Zhaopin,” Blue Orca said.
It also questioned Seek’s affirmation of strong cash flows from its Chinese business.
“If Zhaopin has really generated so much free cash flow, why does Zhaopins indebtedness keep increasing?” the short-seller said.
The release of the statement ended the trading halt the stock entered last week after the short…
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