Anchorage to keep Dick Smith stake

DataRoom: Firm racing against the clock to complete an IPO of the retailer

Anchorage Capital Partners is trying to push for a pre-Christmas initial public offering of Dick Smith Electronics by seeking to assure fund managers that it will keep as much as half its shares in the retailer after an IPO.

Fund managers have told Anchorage that if it wants to complete an IPO by December 15, regarded as the last possible date for a 2013 IPO, it has to keep a significant shareholding in Dick Smith.

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