Dick Smith Lists on ASX



Dick Smith lists on ASX - Major step for iconic consumer electronics business

Wednesday, 4 December 2013

Dick Smith Holdings Limited (Dick Smith) (ASX: DSH) will today be admitted to the official list of the Australian Securities Exchange (ASX), with trading in its fully paid ordinary shares (Shares) commencing following strong demand in its initial public offering (IPO).

The Shares, which were offered at a price of $2.20 each, implying a market capitalisation of the company of $520 million, will debut on ASX at 12.00pm (Sydney time).

Nick Abboud, Managing Director and CEO of Dick Smith, said: “Today is a major step in the evolution of our company, 
one that has been a fixture in the retail community in Australia and New Zealand for decades.

“We have been greatly encouraged by the institutional and retail shareholder response to the IPO and the strong 
demand for Shares. This has allowed us to assemble a high quality register of institutional Shareholders.

“However, we are 100% aware of the responsibility we have to deliver on behalf of our Shareholders. They want to see 
us meet our objectives and to deliver sustainable profit and growth.”

Anchorage Capital Partners, a turnaround and special situations private equity firm, will remain as a key Shareholder in Dick Smith by retaining an interest of 20%. Dick Smith management will hold 11.5% of the Shares issued.

Dick Smith Chairman and Anchorage founder, Phil Cave, paid tribute to the transformation program that Nick Abboud 
and the management team had driven at the company.

“Working with Nick has been a great partnership for us. A tremendous amount of work has gone into driving change and 
getting Dick Smith to the point that it can become a listed company,” Mr Cave said. “There is still more to do, of course, and Anchorage is retaining a significant Shareholding as a sign of our confidence in the company’s forecast financial performance.”

Goldman Sachs and Macquarie Capital were joint lead managers, joint bookrunners and underwriters to the Offer. 
Aquasia advised the Board in relation to the Offer and Minter Ellison was Dick Smith’s legal adviser.