Dicker Data has borrowed $20 million to fund purchases from its biggest vendor partner HP.
The distributor said the Macquarie Bank loan may be used for other vendor inventory purchases down the track.
Dicker Data did not respond to request for comment.
This morning’s announcement is the latest in a series of unusual movements at the distributor. CRN revealed yesterday that rival Ingram Micro had been eyeing Dicker as a potential acquisition target but inexplicably shelved plans this week.
The revelation followed a sharp 73 percent rise in Dicker Data’s share price since December, which yesterday peaked at a record high of $0.895. Stock closed at $0.80.
Dicker Data’s recent volumes are five to 10 times higher than typical. CEO David Dicker owns just over 50 percent of stock with his ex-wife Fiona Brown holding 44.47 percent, according to Morningstar.
Dicker Data has grown net profits from $4.5 million to $8.28 since 2010. It listed on the ASX in January 2011.
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