updated on 02 December 2021
Nearly 33% of partners at firms with 50 or more lawyers are “actively considering an initial public offering” (IPO) within the next 18 months and 44% said it was “under consideration”, according to research by Harbour – a privately held litigation and arbitration funder.
London-based Mischon de Reya LLP is set to be the next firm to list on the London Stock Exchange (LSE). The firm has hired its first chief financial officer, Matt Hotson, as it edges closer to listing on the LSE, which could make it the largest listed firm in the UK.
Harbour’s research indicates that external capital is in “greater demand than ever before”, with 50% of the survey respondents explaining that the pandemic had offered firms new opportunities for growth, according to the Law Gazette.
Harbours Chief Investment Officer Ellora MacPherson said: “This survey shows a real desire by firms to access external finance to support their growth ambitions. IPOs are one way of doing this but won’t be the best fit for all firms.”