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London law firm Mishcon de Reya plans public listing by year end

By Reuters

LONDON (Reuters) – Mishcon de Reya said on Wednesday its partners had voted to explore a public listing that would make every employee a shareholder in the London law firm known for its work in complex litigation.

The firm said it had mandated J.P. Morgan Cazenove to advise on a possible listing which, subject to market conditions, might take place as early as the fourth quarter of the year.

Executive Chairman Kevin Gold said he was delighted that the leadership team had agreed to explore a public listing.

“It will enable us to invest in talent, our core areas, our allied services, as well as technology and Asia,” he said, adding that shares would be awarded to all staff.

“It means every single one of our people will have a meaningful stake in our business,” he said.

Mishcon, which represented Diana, Princess of Wales, in her divorce in 1995, expects to report revenues of about 188 million pounds ($261 million) for the 12 months to April 9, 2021, up from 130 million pounds the previous year, the firm said.

The firm said it would raise funds in a listing to invest in retaining and attracting new talent, core businesses, allied services, technology and further expansion in Asia following its successful launch in Singapore in 2020.

($1 = 0.7210 pounds)

(Reporting by Paul Sandle; editing by Michael Holden)