Princess Diana’s divorce lawyers Mishcon de Reya plot float on the London Stock Exchange
Lawyers Mishcon de Reya could become the largest business of its kind to list on the stock market after partners voted to explore a float.
The London firm, which represented Princess Diana in her divorce from Prince Charles, has roped in JP Morgan to advise on an initial public offering
Few law firms list on the stock market, as most operate under a partnership model.
Float plan: Mishcon de Reya represented Princess Diana in her divorce from Prince Charles
This means that senior members, or partners, own the firm and share the profits. But they also have to fund extra investment, and Mishcon wants to expand.
If it was listed it could raise funds from investors.
Executive chairman Kevin Gold added that listing would allow it to hand shares to junior staff, giving them more reason to stay.
He said: ‘It will enable us to invest in talent, our core areas, our allied services, as well as technology and Asia.’
Mishcon could float later this year for around £750million, making it much more valuable than its other listed rivals.
It has grown revenues to £188million a year and is aiming for £400million.