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.