Dick Smith Has Raised $345 Million In Its Long-Awaited IPO

Electronics retailer Dick Smith has raised $344.5 million in its highly anticipated IPO.

The company listed with the ticker code of DSH on the ASX at noon today, issuing 156.6 million shares at $2.20 each.

It opened at $2.28, but fell back to the issue price by about 1.20pm, valuing it at about $520 million.

Private equity owner Anchorage Capital bought Dick Smith from Woolworths for $94 million just last year and now has a 20% stake in the retailer.

Dick Smith is the 43rd company to list on the ASX this year.

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