Gateley set to be first listed law firm as £140m IPO looms

LAW firm Gateley is set to become the first law firm on the London Stock Exchange, and has been valued at between £130m and £140m.

According to The Sunday Times, Gateley is being advised by Cantor Fitzgerald, and the firm’s management are set to list the firm on the smaller AIM market.

A spokesperson told TheBusinessDesk.com: “I can confirm that we are going through the process.” 

The firm reportedly wants to gauge the interest of investors before going ahead with a flotation.

Birmingham-based Gateley signed up for 7,500 sq ft of space at the Minerva office building in Leeds in March. The firm has 28 staff in the city and will be expanding in their new space, almost doubling staff numbers to over 70.

Gateley has offices in nine British cities, including Manchester, Leeds, and London. 

If the floatation goes ahead, it will be the first law firm to go public since the 2011 Legal Services Act allowed non-lawyers to own shares in law firms.