DWF announces £366m market cap ahead of IPO
International legal business DWF, with offices in Belfast and Dublin, has announced a market capitalisation of £366 million ahead of its initial public offering on the London Stock Exchange.
The offer price for the recently-incorporated DWF Group Limited has been revealed today as 122p per share.
Commenting, CEO Andrew Leaitherland said: “The IPO is only the start and I am confident in DWF’s strong fundamentals and continued growth prospects as a listed company.”
Immediately following admission to the stock exchange, it is expected that approximately 25.7 per cent of DWF’s shares will be held in public hands.
Around £19 million of the net proceeds of the offer will be used to repay a portion of members’ capital contribution to DWF LLP; up to £10 million will be invested in additional IT systems, including the development of DWF’s global platform for managed services; and the remainder will be used to fund general corporate purposes, including working capital and future potential acquisitions.