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Mishcon delays stock market listing

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IPO plans temporarily postponed amid market volatility

Mishcon de Reya has temporarily postponed its planned listing on the London Stock Exchange deeming the market too volatile at present.

It had expected to go public this year after 93% of partners at the London law firm voted in favour of the flotation in September 2021.

The plans had been in the works for months prior, with investment bank JP Morgan brought on to advise on the initial public offering (IPO) in April 2021.

The 2022 Legal Cheek Firms Most List

It is understood that the firm believes there is a clear rationale to proceed with the listing but only when market conditions have improved.

Last week it was reported that WeRock, the company that owns the WeTransfer file service, was cancelling its IPO on the Amsterdam Stock Exchange due to market volatility.

Mishcon would become the sixth UK law firm to float, joining the likes of DWF, Gateley and Knights, among others. It would also be the biggest of the bunch.

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7 Comments

Anon.

Are we that surprised really? A combination of volatility and negative headlines have put this idea to bed for now. Everyone knows anyway, the minute the IPO floats, the value of those shares will drop massively, and with MdR seemingly making the papers for x, y and z at a weekly occurrence, they know they won’t make the money they want from this. Bad move for all

(13)(2)

Heh, QC

I also think that their investor prospectus would be pretty disappointing given that they lost an entire team (in a field that they were a market leader in, no less) of partners and associates who did not want this merger.

(3)(0)

Lawyer to PE Head

They would have been far better off in taking some of the money offered from PE funds.

I cannot seeing this ever happening now, not least of all they will continue to haemoraghe teams.

(1)(1)

absolutely no one

no one cares thanks

(11)(3)

Back to TikTok fresher

Why are you reading legal news if this is not even remotely interesting?

(4)(6)

🤣🤣😅😅

“legal news”

(3)(2)

Back to TikTok fresher

No one was talking about the quality.

A law firm’s listing surely qualifies as “legal news”.

(2)(1)

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