Law Practice Management
Dow is Down, But Stock of Aussie Law Firm is Up, Literally
Posted Feb 26, 2009 5:41 PM CDT
By Martha Neil
Despite the gloomy world economy, stock in the world's first publicly owned law firm is doing just fine.
Not quite two years after it went public in May 2007, the market capitalization of Australia's Slater & Gordon is now $113.5 million, compared to an initial valuation of $89.7 million, reports the Am Law Daily. The share price is about $1.
The 160-attorney plaintiff-focused personal injury injury practice is in a major expansion mode, acquiring nine other law firms within the past year with the help of capital raised by its initial public offering. It is headquartered in Melbourne.
It reported a 35-percent revenue increase during the six-month period that ended Dec. 31, 2008, reports the Sydney Morning Herald in an article yesterday that details the firm's financial situation.
Earlier ABAJournal.com coverage: