Anchorage-backed Dick Smith closes flat after $311m IPO
Shares in Australian electronics retailer Dick Smith Holdings, which is backed by Anchorage Capital Partners, gained 3.6% on their trading debut on Wednesday before settling back to A$2.20, the same as the IPO price. The offering earlier raised A$344.5 million ($312 million).
The company sold 156.6 million shares priced at A$2.20 apiece, generating proceeds of A$344.5 million for Anchorage and valuing the entire business at A$520.3 million or 7.4x forward EBITDA. Anchorage's...
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