Shares in international firm DWF were trading fractionally up on their opening price as the business became the first legal practice to list on the main market of the London Stock Exchange. Shares amounting to 26% of the DWF Group opened at 127p before slipping back to 124p, marginally up on the intital public offering price of 122p.
In a statement today, the company said: ’DWF Group plc is pleased to announce that its entire issued ordinary share capital of 300,000,000 shares has today been admitted to the premium listing segment of the official list of the FCA and to trading on the Main Market of the London Stock Exchange plc under the ticker “DWF”.’
DWF’s share offering is the most ambitious yet in the legal sector. The handful of other law firms to list in their own right - Gateley, Gordon Dadds, Keystone and Knights - all trade on the alternative investment market, a junior bourse set up in 1995 with more flexible entry requirements for smaller and growing companies.