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Mishcon trainee and junior lawyers set to become firm shareholders as flotation gets go ahead

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Voted through by partners

London law firm Mishcon de Reya has moved a step closer to realising its listing dream, with partners officially giving the proposals the green light.

In April, Mishcon revealed it had drafted in JP Morgan to advise on the “possible float on the London Stock Exchange” in a move which would see it become the UK’s largest listed law firm. At the time the firm said that subject to market conditions, the move could take place as early as the fourth quarter of 2021.

The decision to push ahead was reportedly made this week when over 75% of the firm’s partnersip voted in favour of the plans.

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If given the go-ahead, the move would see every member of staff, including trainees and junior lawyers, become a shareholder in the new listed outfit.

Mishcon would become the sixth UK firm to float, joining the likes of DWF, Knights and Gateley, among others.

There’s also been rumours swirling the City recently that Irwin Mitchell is considering a flotation of its own, with aspirations of securing a £500 million valuation.

7 Comments

Anonymous

In a listed firm model, are partners’ drawings treated as dividends? If so, that would be significantly more tax efficient than income treatment.

Moneybags

I would assume so and that’s why 75% of the Partnership voted for it 🤑

Incoming Fresher at Trump University

When will Freshfields announce their IPO and £147k + stock options NQ pay package?

IB tho

I don’t understand why the MC don’t go for this.
Worked for the boutique banks with similar advisory models (partners made a fortune) and you get to realise future cash flows today while incentivising employees with shares. Also, put in the correct vesting arrangements and it might even stop the haemorrhaging of associates to other firms.

Paul

How much will they get? I want money.

Anonymous

I want equity in my firm…

Hal

Sorry they don’t offer equity to open day students. Hope the coursework is going well mate.

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