Markets

Exclusive: City law firm Rosenblatt mulling a London IPO

City law firm Rosenblatt is understood to be contemplating an IPO on the London Stock Exchange.

The commercial firm had a reported revenue of £16m in 2017 and advises clients on areas such as corporate, disputes and finance.

It was founded in 1986 by current senior partner Ian Rosenblatt who received an OBE for services to music in 2016.

Speaking to City AM, Rosenblatt would neither confirm nor deny that the firm was contemplating a float, saying that: “I’m mulling what suit to wear tomorrow too.”

The firm appointed former Brands Hatch chief Nicola Foulston as its first CEO in September 2016.

Foulston floated motor sport business Brands Hatch on the London Stock Exchange in 1996, selling it in 1999 for over $195m (£140m) to US marketing giant Interpublic.

Read more: UK's second listed law firm Gordon Dadds doubles profit in first results

If the City stalwart does float it would join the likes of Gateley, Gordon Dadds and Keystone Law on the public markets.

Birmingham-headquartered Gateley was the first English law firm to go public when it was admitted to London’s AIM market in June 2015 raising £30m.

Last year it was joined on AIM by West End firm Gordon Dadds which raised £20m and formerly “virtual” firm Keystone Law which raised £15m.

Gordon Dadds, which had a revenue of £12.89m in the last financial year, has used the capital raised to expand, acquiring south London solicitors firm Alen-Buckley and tax consultants CW Energy.

Original Article

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *