Gateley becomes the first UK listed law firm
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KBS Corporate’s legal partner, Gateley plc, has become the first UK law firm to list on AIM, marking a significant achievement for the successful group.
Gateley provides high quality, integrated partner-led, client-focussed legal services across five core groups to over 4,000 corporate and 1,500 private clients.
The Board at Gateley believes the successful transition from an LLP to a PLC and Admission will provide the platform to facilitate the Group’s anticipated organic and acquisitive growth strategy.
£30 million was raised from the Placing of over 31 million Ordinary Shares with institutional and other investors at the Placing Price of 95 pence per share.
Michael Ward, CEO of Gateley plc, commented,
“We are delighted to be the first UK law firm to list on AIM and today marks a significant achievement for this successful, fast growing and entrepreneurial legal services group. The IPO will provide the platform for the continued success of the business, as well as accelerate its growth opportunities and facilitate value creation through an increased ability to acquire, incentivise, differentiate and where sensible diversify.
We view the support from staff, partners, clients and investors as a strong endorsement of the Group’s growth plans and we look forward to creating value for our new shareholders as we begin life as a listed public company.”