London Stock Exchange today welcomed Gateley to AIM
London Stock Exchange today welcomed Gateley, a leading national commercial law firm to a market open ceremony, marking the admission of its shares to trading on the Alternative Investment Market as the first UK law firm to do so. Gateley was established in the 19th Century, and has over 380 fee earners across six offices in England and an office in Dubai. 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. These core areas are Banking and Financial Services, Corporate, Business Services, Employment and Pensions and Property.
The IPO placing raised £30 million in total at the Offer Price of 95 pence per Offer Share which equates to a market capitalisation of £100 million on Admission. Cantor Fitzgerald Europe is acting as financial adviser, nominated adviser and broker to Gateley.
Michael Ward, CEO of Gateley commented:
“We are hugely excited to be the first UK law firm to join the London Stock Exchange. Our fast growth and reputation over the last ten years has been driven by the quality of our people and is testament to our success as a business. Our future as a PLC will help ensure these crucial strengths remain at the core of our development and provide the platform for further value creation as we look to acquire, incentivise, differentiate and where sensible diversify. We would like to thank our new investors for their support and look forward to rewarding their commitment through the growth of the business.”