Law firm Gateley lists on LSE
PARTNERS in Gateley Holdings shared a £25million windfall as it became the first UK law firm to list on the London Stock Exchange.
Gateley is the first UK law firm to be listed on the London Stock Exchange
The company raised £30million as its shares were placed at 95p with investors on the junior Aim market, giving it a £100million valuation.
While the partners, some 81 of whom were eligible to participate in the sale, received most of the proceeds, £5million will be used to support growth, including acquisitions.
Gateley chief executive Michael Ward said the initial public offering “will provide the platform for the continued success of the business”.
Gateley shares closed up 4p at 99p.