29th Apr 2021 10:41
(Alliance News) - Law firm Mishcon de Reya LLP said on Wednesday its partners have voted in favour of pursuing a premium listing on the London Stock Exchange later this year.
The London-based firm said an initial public offering will allow it to accelerate the expansion of its legal and advisory services and to expand into high-growth new business areas. It expects to report GBP188 million in revenue for the financial year that ended April 9.
Mishcon has mandated JP Morgan Cazenove to advise on the possible IPO, expected to take place in the fourth quarter. It said every member of staff will become a shareholder.
"I am delighted that the leadership team is mandated to explore a public listing as we look to further develop our offering to clients," said Executive Chair Kevin Gold. "It will enable us to invest in talent, our core areas, our allied services, as well as technology and Asia."
On the London Stock Exchange, Mishcon will join listed peers Gateley Holdings PLC, DWF Group PLC and Knights Group Holdings PLC.
The Times newspaper said Mishcon could be valued around GBP750 million. It noted the law firm was the one used by Diana, Princess of Wales, in her 1996 divorce from the Prince of Wales.
By Tom Waite; [email protected]
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