IPO Set To Make Mishcon De Reya LLP The Largest Of a Handful Of Public Law Firms In The World

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IPO set to make Mishcon de Reya LLP the largest of a handful of public law firms in the world!

Mishcon de Reya LLP, a UK-based law firm that wants to become the world's largest publicly traded law firm, has postponed its expected listing for a second time, according to people familiar with the matter. Mishcon de Reya continues to strengthen its ranks ahead of its upcoming IPO, strengthening its two-partner crime investigation, investigation and patent litigation practice. The company has hired Campbell Forsyth, Denton's co-head of European patent litigation, joining the company in less than six years. Previously, he has worked with King & Wood Mallesons, and Dentons has represented clients in a wide range of High Court, Court of Appeal and Supreme Court patent cases involving various technologies focusing on pharmaceuticals, electronics and telecommunications, according to the company profile.

Mishcon has also bolstered its Investigations and Criminal Division with health and safety expert Kizzy Augustine, who has joined Russell Cooke's UK team. Augustin partnered with Russell Cooke for nearly four years after joining the Pinsent Masons, where he managed his health and safety team in London. She specializes in defending companies, executives, and employees in investigating and prosecuting manslaughter, fire safety, environmental protection, health and safety cases and was named a "Leading Person" in the Legal 500 2021-22.

The additions come after a period of change for Mishcon as it prepares to become the latest UK law firm to list on the London Stock Exchange. A large team of partners left the company for Greenberg Traurig in 2021 ahead of the partner vote approving the IPO, followed by other lawyers later that year. A spokesman for Dentons said: "We thank Campbell for his contributions during his tenure with the company and wish him all the best for the future."

The London-based law firm, which initially sought a listing in January with a valuation of at least £750m ($1bn), is now considering selling the shares no earlier than the second quarter; people who wished to remain anonymous said. Because this is a personal matter and represents a route for global equities. Moreover, heightened volatility makes it harder for companies to enter the market. Mishcon's IPO would have made it the largest publicly traded law firm in the world. Still, it recently faced a wave of negative publicity after its regulator slapped it with a record bankruptcy fine with anti-money laundering measures.

However, we hope this is not the first IPO to be delayed due to market volatility. File-sharing platform WeTransfer, set to become Europe's first prominent listing this year, cancelled its IPO on Thursday after a sell-off in tech stocks hit investor appetites.

In New York, market volatility forced at least nine companies to delay IPOs, including cloud-based talent platform Justworks Inc. and Four Springs Capital Trust. Concerns about inflation, the prospect of rapid rate hikes and the threat of war between Ukraine and Russia have sent global stocks into their worst month since the pandemic began, dampening investor appetite for new stocks. The British stock exchange was made possible in 2011 after the regulator's resilience to outside investment waned, but so far, the number of listed law firms has been negligible.

An IPO would make Mishcon the largest of a handful of public law firms, including Manchester-based DWF Group Plc, with a market value of around £375m. A spokesman for Mishcon declined to comment.

Mishcon's judicial department, along with a client list of oligarchs and wealthy individuals, was one of the critical factors in his reputation in the UK. The London Times called him "legendarily belligerent". The company's website boasts that its vice president was Princess Diana's lawyer in her divorce, and its current managing partner was Gina Miller's lawyer in her successful Brexit battles that reached the Supreme Court.

But since then, IPO plans have been far from smooth. A previous proposal to consider a public listing was shelved in 2019. More than 90% of the partnership members voted to advance plans next year.

Then, at the end of last year, about 20 lawyers, including seven partners, left the firm and went to work in the London offices of the US law firm Greenberg Traurig LLP. Among the departures were some of the company's most prominent employees in forensics and white-collar investigations, one of the departments in which Mishcon has made a name for herself.

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