Fast-gowing international firm DWF has become the latest legal practice to consider floating on the London Stock Exchange. A share sale, which could raise up to £1bn, would make it by far the largest listed law firm.
In a statement today, the firm says an initial public offering would enable it to invest further in information technology and connected services. ’As a business which is committed to “doings things differently” it is also important to consider alternative structures which can set us apart from other legal businesses. To that end, we have been considering a number of strategic options for our business, including the possibility of an IPO on the London Stock Exchange.
’If we were to proceed with an IPO, we believe that it would enable us to achieve our strategic objectives more quickly, while also enhancing our ability to attract and retain the best talent and to incentivise our people by aligning them through offering ownership within the business.
’We are focused on an IPO, however, a number of options are available to us, and we can still continue to build on our success to date, with the support of our clients, under our current structure. For the time being, it is very much business as usual for us, our clients and our business partners as we continue to focus on delivering the excellent service which our clients have come to expect of us.’
The announcement follows a successful £43m placing by City firm Rosenblatt, which became the fourth firm to float on the London Stock Exchange in its own right. National firm Knights has also announced plans for a share listing.