Mischon de Reya, the London-based law firm, said it’s postponing its initial public offering (IPO) because of “volatile” market conditions.
Management decided to delay taking the firm public after sounding out potential investors who said the state of the market was unfavourable for a float, City A.M. said.
The IPO will still take place at an unconfirmed later date as the “rationale” for it remains strong, it said.
The delay decision, which did not need a vote from partners, comes after several underwhelming launches on the London Stock Exchange as of late.
Last week, file transfer company WeTransfer cancelled its IPO for the same reason, City A.M. said.
Initially in September, 93% of Mishcon’s partners voted in favour of launching a listing.