Mishcon de Reya is the latest law firm to consider floating on the financial markets to raise capital. The story was broken over the weekend by Sky News – we’re not sure about the heading ‘Legal eagles at Mishcon de Reya explore bumper flotation’ – but it has been followed by a number of stories across the national media.
“Mishcon de Reya LLP has delivered significant growth over the past 15 years. As a financially robust and dynamic firm we have ambitious plans for the next phase of growth and to achieve this are considering all options for raising capital. No decisions have yet been made,” a spokesperson told Legal IT Insider.
According to Sky, Mishcon is to hire bankers in the coming months to explore its options. Sky’s sources said that Mishcon’s leadership team was yet to make any formal decisions about raising capital to accelerate its growth.
An alternative to floating could involve the sale of a stake to a private equity investor as Mishcon further diversifies into a wider range of professional services aimed at wealthy individuals and companies, Sky speculates.
The float follows that of DWF, which listed on the main market – becoming the first law firm to do so. DWF was valued at around £366m.
Here is Sky’s story: Legal eagles at Mishcon de Reya explore bumper flotation