Business of Law
UK law firm goes public, raises nearly $46M; how much will partners get?
The first U.K. law firm to go public raised nearly $46 million in an initial public offering Monday.
Shares in the Gateley law firm opened at 95 pence and rose 4 percent before closing. Legal Business, the Birmingham Post and Reuters have stories; a press release is here.
About 81 partners will receive about $38 million while about $7.7 million will finance the law firm’s growth.
Clients purchased about 10 percent of the shares.
See also:
ABAJournal.com: “Law firm poised to be UK’s first to go public, hopes to raise $15M in IPO”
ABA Journal: “Does the UK know something we don’t about alternative business structures?”
