Proactive Investors - Run By Investors For Investors

DWF Group expects to raise primary gross proceeds of around £75mln from an initial public offering next month

The law firm plans to announce the final offer price and publish its final prospectus following a marketing and book-building process, with admission currently expected to occur in March
IPO sign
It also confirmed that would have a free float of at least 25%, and expects that it would be eligible for inclusion in FTSE UK indices

Law firm DWF Group Ltd expects to raise primary gross proceeds of around £75mln when it launches an initial public offering on the London Stock Exchange's main market next month.

The company said it expects to announce the final offer price and publish its final prospectus following a marketing and book-building process, with admission currently expected in March 2019.

READ: Law firm DWF Group planning potential initial public offering on the LSE's Main Market

It also confirmed that would have a free float of at least 25%, and expects that it would be eligible for inclusion in FTSE UK indices.

The group said it will use the funds raised from the IPO to repay a portion of the members' capital contribution to DWF; to invest in operations and infrastructure including in additional IT systems and certain strategic initiative change programmes in support of its managed services work; to fund working capital for general corporate purposes as well as potential funding for future acquisitions; and to pay underwriting commissions and fees and other offer-related fees and expenses. 

DWF provides a mixture of legal services across its Commercial Services, Insurance and International divisions, and also provides a range of professional, business or consulting services.

For the six months to October 31, DWF reported a 26% year-on-year jump in internal gross profit to £66.2, as net revenue increased by 18% to £133.4mln.

The company said it has engaged Stifel Nicolaus Europe and Jefferies International to act as joint global co-ordinators and Zeus Capital to act as lead manager for the IPO.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

Live Company
March 05 2019
Since listing on AIM in December 2017, the company has been pursuing an aggressive strategy of expansion and brand building that has paid off for the share price.
marketing
January 29 2019
“With the geopolitical landscape remaining in flux, clients are looking for greater certainty from their marketing programmes which our agencies and data businesses are proving able to provide"
pills
March 22 2019
The healthcare-focused advisory group boasts good levels of forward bookings thanks to several new business wins at the beginning of 2019

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use