Dicker Data to float in January

Dicker Data plans to list on the Australian Stock Exchange in early January after meeting the minimum requirements for listing this week.

The distributor now has the minimum 500 shareholders, each with an interest of at least $2000 in the company, for a "compliance listing" on the ASX.

David Dicker told CRN that Dicker Data's lawyers and broker will submit paperwork for listing this week and then nut out a schedule for floating on the ASX in the New Year.

Whilst he said that coming into Christmas was "the worst time of year" to achieve such a feat, Dicker nonetheless expects the distributor to be trading on the ASX by the second week of January.

Under the compliance listing, shareholders will hold around four percent of the company, with founding directors David and Fiona Dicker maintaining some 96 percent.

"We didn't need to raise money, so there wasn't a lot of sense to sell down the company any further than what we needed," he said.

But Dicker said the founders would dilute their shareholding during share offers later in the year.

He said the company would "continue to operate in the same way" – with no new directors.

"We'll have the same strategy," he said. "Internally, we'll hardly notice anything different – we already do everything on the books and on the tax side of thing as a publicly listed company would."

Dicker said the company has listed for its long-term credibility with vendors and banks.

"We look to those guys to fund the business and provide the products," he said.