Anchorage to be paid $358 million in Dick Smith IPO

The private equity firm’s proceeds from the IPO exceed the planned $344.5 million share sale, which gives the retailer a market value of $520.3 million.

Anchorage Capital Partners will get $358.1 million from the initial public offering of Dick Smith Holdings Ltd, according to Dick Smith’s IPO prospectus.

Sydney-based Anchorage paid $98 million for the electronics retailer in November last year.

The private equity firm’s proceeds from the sale of Dick Smith dwarfs the $344.5 million planned IPO of the company.

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