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Finance and Quantitative Methods | Dick Smith Holdings

   

Added on  2019-11-25

10 Pages3048 Words124 Views
1 FINANCE AND QUANTITATIVE FINANCE AND QUANTITATIVE METHODS

2 FINANCE AND QUANTITATIVE Contents1. Introduction-................................................................................................................................32. A brief summary of the ownership history of the Dick Smith brand-.........................................33. A critical evaluation of the valuation of DSH when DSH was acquired by Anchorage Capital Partners and at its initial public offering (IPO)-..............................................................................44. An assessment of the ethical dilemmas facing two separate sets of people-...............................5Anchorage Capital Partners in respect of the flotation of the business:......................................5The directors and senior executives of Dick Smith Holdings in respect of statements made in the 2014/15report and accounts:..................................................................................................65. Conclusion-..................................................................................................................................76. References-..................................................................................................................................9

3 FINANCE AND QUANTITATIVE 1. Introduction-This assignment helps in developing an understanding about the ownership history of the DickSmith brand which is a retailer which deals in consumer electronics products in Australia andNew Zealand and has a reputed name in the market. In this assignment a critical evaluation of thevaluation of DSH when DSH was acquired by Anchorage Capital Partners and at its initial publicoffering (IPO) is also undertaken. It is analyzed that the sales growth forecast is to decrease from$1.3 billion to $1.2 billion when compared to the last financial year. In this assignment anassessment of the ethical dilemmas facing two separate sets of people i.e. Anchorage CapitalPartners in respect of the flotation of the business and The directors and senior executives ofDick Smith Holdings in respect of statements made in the 2014/15report and accounts (Asquithand Weiss, 2016).2. A brief summary of the ownership history of the Dick Smith brand-Dick Smith Holdings Limited is a retailer which deals in consumer electronics products inAustralia and New Zealand and has a reputed name. The organization was founded in 1968 byentrepreneur named as Dick Smith. He started the organization with single store of installation ofcar radio in the city Sydney. Some part of it was purchased by Woolworths Limited in the year1981. Woolworths took complete ownership of Dick Smith Holdings Limited in the year 1983when it was having 20 stores. Woolworths make acquisition of Tandy in the year 2001 and mostof the stores of Tandy were rebrand as Dick Smith and in the end of the year 2005 they generatedsales of $1bn (Theconversation, 2017). Dick Smith Holding was reputed organization and has a well known brand name in the countryAustralia. But Woolworths has leaded the organization towards competitive pressures and thusresulting in failed restructuring of the business by the Woolworths. Woolworths makedivestment in the business of Dick Smith Holdings and is finally acquired by Anchorage CapitalPartners (“Anchorage”) in the year November 2012 for $94m. Anchorage Capital Partners is anorganization which is Australian based private equity firm having around $450m funds. Afterrestructuring of 12 months Dick Smith Holdings get listed on the stock exchange by getting

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