Dicker Data one step closer to ASX listing

Dicker Data has officially started the hunt for shareholders, in anticipation of a December 13 ASX listing.

The distributor has posted details and a prospectus to its Website, describing the ability for interested parties to purchase up to $2000 worth of Dicker Data shares at $0.20 each, in what Dicker Data managing director, David Dicker, describes as a compliance listing.

The majority shareholder in the ASX-listed Dicker Data will remain the founders. A maximum of 500 shareholders will be entitled to purchase shares, on a first come, first served basis.

Dicker said he was pleased with the number of people who had become involved so far. The distributor has engaged Stonebridge Securities to assist in gaining the last few shareholders for the IPO.

"We wanted to pitch to our guys first," Dicker said. "We've got a fair few dudes so far, and I don't anticipate any trouble reaching that 500."

In a previous interview with <i>ARN</i> Dicker claimed the listing would have no impact on the operations of Dicker Data, however the company would expect to have increased financial clout.

“We will have the same people; we will be doing the same things. It will probably make the company have a better value – certainly more liquid value, and we hope it will allow us to get more funding from the banks,” Dicker said.

However, the company doesn't need the money, Dicker claimed, and indeed the cost of listing would almost reach the value of the IPO.

"It's just a natural progression for what you should be doing," Dicker said. "To be honest, we probably should have done this 10 years ago."

Dicker Data has previously attempted to gain a listing on the ASX through merger with ASX-listed company, Cellnet, however that deal fell through.

Dicker said the newest attempt was more organic, and cost-effective for the business.

Once listed, Dicker Data will have the ASX code of DDR. Dicker and his ex-wife, Fiona, would retain 96 per cent of shares, split approximately evenly between them.

Dicker said the plan was to offer another 10 per cent of shares to the public in the second half of 2011.