Dick Smith eyes pre-Xmas IPO

Media reports suggest consumer electronics chain's owners mulling float this year.

Dick Smith Electronics' private equity owner Anchorage Capital could float the group before Christmas, according to media reports.

Fairfax Media included Dick Smith in a list of potential pre-Christmas floats looking to take advantage of current favourable market conditions, noting its appeal will depend on pricing, as well as other less-established businesses in a range of other industries.

Meanwhile, The Australian Financial Review reports Anchorage and its advisers are pushing forward with plans for an initial public offering before the end of the year.

Anchorage purchased Dick Smith from Woolworths last year for $20 million and has in recent months appointed Goldman Sachs and Macquarie to explore sale options.

The AFR reports feedback from fund managers has been positive with an IPO valuing the company in a range between $550 and $620 million.

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