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DWF set to make legal history with £1 billion London Stock Exchange flotation

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Global giant’s top brass could be handed £10 million share windfall… each!

Global outfit DWF is gearing up to float on the London Stock Exchange (LSE) in a move expected to make up to £1 billion.

If given the go-ahead by the firm’s partnership, the flotation will be the largest in legal history and could see a small number of DWF’s top brass trouser £10 million each in shares, The Times (£) reports. In a statement issued today, DWF said it was considering “a number of strategic options for our business”, including the “possibility” of an IPO (initial public offering). It continued:

“If we were to proceed with an IPO, we believe that it would enable us to achieve our strategic objectives more quickly, while also enhancing our ability to attract and retain the best talent and to incentivise our people by aligning them through offering ownership within the business.”

Slater and Gordon was the first law firm to float. The personal injury specialist went public with a listing on the Australian Stock Exchange in 2007.

Since then, a raft of UK firms have followed suit, including Birmingham-based Gateley, national outfit Keystone Law and London duo Gordon Dadds and Rosenblatt Solicitors. Earlier this month, regional law firm Knights also announced its intention to list on the LSE.

The 2018 Firms Most List

DWF’s seven-figure flotation estimate is a far cry from its early life as a humble northern upstart.

The Manchester-headquartered firm — which boasts flashy office space high up in London’s iconic Walkie Talkie building — quickly grew though a series of domestic and international mergers. Legal Cheek’s Firms Most List shows DWF now has 23 offices in nine countries, and offers around 40 training contracts annually.

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55 Comments

Anonymous

Buying shares in a firm with a notoriously awful reputation like DWF is akin to putting your money in a blender, eating it and then emptying your bowels in the nearest McDonald’s toilet

(38)(11)

Anonymous

DWF Stratton Oakmont

(17)(0)

Anonymous

Bitter much

(3)(4)

Anonymous

Hi Andrew.

(5)(0)

Anonymous

Heavily leveraged, overstretched low-value claims boiler room decides to go big in a “£1bn IPO”. I mean, what could possibly go wrong right?

Assuming this actually goes ahead (so far it looks like a free bit of marketing puff), let’s see how long it takes before their stock goes junk.

(35)(5)

Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

(8)(25)

Anonymous

This post has been removed because it breached Legal Cheek’s comments policy.

(5)(4)

Anonymous

I think you’re getting Birmingham mixed up with London

(3)(5)

Birmingham, ALABAMA

Nice try, but nah.

(5)(2)

Anonymous

Not doing to bad for northern twats are we

(7)(4)

Anonymous

Too bad.

Far too bad.

(3)(1)

Not Amused

We should never have removed the rules preventing corporate structures.

Law is a profession. Justice is a service to the nation. This stuff is wrong.

(28)(4)

Anonymous

Somebody somewhere has leaked this story, hence DWF being forced to justify what is at best a possibility before they are ready. Not enough working capital and lack of other larger firms wanting to merge means they think they may have to go public – before they go bust, obviously.

(30)(4)

Anonymous

The shop’s been heading there for the past 6 months – huge overheads, white elephant office with no good work in London, rapid expansion with little sense of direction. This IPO is the last gasp for air before the whole structure implodes.

If I were a trainee there now I’d be opting for the most transferable seat choices possible (Corporate, Real Estate, Disputes) as you may not have an NQ job at the end of your two years.

(31)(4)

Anonymous

Won’t survive two years…

(6)(4)

lmfao

I’d happily invest in a multi level marketing scheme before giving them a single penny.

(12)(0)

Anonymous

Big windfalls for the morbidly obese partners, shaft your staff and then drive the shop right down the toilet.

That’s DWF for you in a nutshell.

(21)(3)

Anonymous

Just make sure your pension fund is nowhere near this.

Waste of ££££

(7)(1)

Anonymous

This is Halliwells 2.0, the only difference being that those poor sods didn’t have the option of the IPO route to keep the Ponzi going.

(15)(2)

Anonymous

£1bn IPO, but still pays its NQs £59k. 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

(19)(2)

Anonymous

36 and 38k in regions

(12)(1)

DWF 2PQE (£64k)

I’ve asked the partner I work with when will the next salary raise be, he told me it would be “after the highly successful IPO”.

I could hear him laughing with delight after I left his office and closed the door.

(13)(4)

Anonymous

Well this is clearly a troll comment given there are NO offices at DWF…. #justsaying

(14)(5)

DWF 2PQE (£64k)

This was in the men’s rooms – he liked to refer to the cubicle as his “office”, the bog his “throne”.

#justsaying

(11)(4)

Corbyn.Sympathiser

Money, money, money
Must be funny
In the rich man’s world
Money, money, money

Love you Jeremy – its all for you little beard man … oooo yeahhh

(0)(10)

DWF Arsesociate

This post has been removed because it breached Legal Cheek’s comments policy.

(0)(0)

Anonymous

As DWF is a firm whose expansion is based on the Managements’ narcissism…

No wonder it wants to take even more then run.

Shame, some nice people work there.

(14)(0)

Anonymous

DWF is distinctly average and as others point out is over-reliant on insurance related work. It is run by paralegals.

It is so far out of it’s league it is laughable.

(14)(2)

Anonymous

“But…but…but we’re gunna have a ONE BILLIUN PAUND IPO man! We’re gunna be as BIG AS DE MC!”

(4)(0)

Scott 'Big Dollah' Barshay

Mate, I make that – baseline – in a year.

(1)(1)

Anonymous

“the flotation will be the largest in legal history and could see a small number of DWF’s top brass trouser £10 million each in shares”

Top brass usually indicates old balls. So let’s analyse this: Old guys on the verge of retirement from a mid tier boring shop with mid tier boring equity drawings for years all of the sudden decide that they need to do a massive flotation in the twilight of their career?

I am sure there is no inference to be drawn from that.

(24)(0)

Anonymous

When you put it like that, old balls never looked so good!

(12)(0)

Anonymous

You lot are mugs. Stop thinking firm prestige is the key factor in business. Even if they float for a fraction the big dogs will make a mint. Welcome to the real world

(10)(1)

Anonymous

Yep, the deadwood partners will coin it straight before retirement and the staff will still be paid peanuts for working in a boiler room.

Utter genius if you ask me.

(14)(0)

Anonymous

This is the most blatant golden parachute deal for those fossil partners on the way out.

But you are being highly optimistic that the staff will still be paid! Someone will go Bain Capital on them and fire everyone when the stock starts plummeting or it will be too late and the firm will implode.

(11)(0)

Anonymous

“DWF set to make legal history with £1 billion London Stock Exchange flotation”

“DWF’s seven-figure flotation estimate is a far cry from its early life as a humble northern upstart.”

1 billion is 10 figures, not 7.

(26)(0)

Anonymous

They’re bloggers, not real journalists. Stop holding them to the same level of competency.

(7)(1)

Anonymous

It’s the staff I feel sorry for. Money goes to money. Watch the fat cats run once they have it. Leaving good people up the creek without a paddle.

(10)(0)

Anonymous

When the bank stops increasing the overdraft and debt capital can’t be raised from an institutional lender then flotation for equity becomes an option.

The lack of organic growth is clear and with them looking to scale – as rheir relarively recent star signing knows nothing else than this as a strategy- it will try to replicate DLA but fail.

Some decent people there. I hope they get out soon.

(14)(0)

Comments are closed.

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