DataRoom AM: Dick Smith gift?

Dick Smith looks set for a pre-Christmas float while Nine goes on a spending spree before its IPO.

The owners of Dick Smith appear happy to try their luck on the market pre-Christmas as the IPO market starts to ignite. Expect the float to leave a bitter taste in the mouth of Woolworths’ shareholders. Nine Entertainment, meanwhile, is spending up big ahead of its IPO, hoping to show off its digital potential to investors before a December listing. Elsewhere, the manager of the Commonwealth Property Office Fund rebuffs Dexus, a KPMG review finds Bega’s Warrnambool Cheese and Butter bid undervalues the group and queries are raised about the valuation of the Cross City Tunnel.

Dick Smith Electronics, Anchorage Capital, OzForex, IPO market

It appears the IPO market is too hot for Anchorage Capital Partners to risk pushing back a float of Dick Smith Electronics until next year.

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