Gateley is set to be the first British law firm to list in London after it announced its stock market flotation on Tuesday in a move that will give it access to funds for expansion. The commercial law firm, with six offices in England and one in Dubai, said it would have an initial market value of about 140 million pounds ($218 million) when it floats on London's junior AIM market. Chief Executive Michael Ward said going public would enable the company to diversify and incentivise partners and staff.
"We can use our balance sheet and shares in the marketplace, and that differentiates ourselves from our competitors," he said in an interview. The firm could expand into complementary areas such as consultancy in human resources, environmental law and town and country planning, he added.