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Rosenblatt aims to raise £43m when it becomes fourth UK law firm to list


City law firm Rosenblatt is aiming to raise £43m next week when it becomes just the fourth UK law firm to go public.

The firm, which has its first day of trading on Tuesday, revealed in documents filed at the London Stock Exchange that it plans to raise £43m, which would give it a market capitalisation of £76m.

Milton Asset Management, Fidelity Investments, Blackrock and Canaccord Genuity Group are set to acquire 15.8 per cent, 6.6 per cent and 3.6 per cent of its shares.

Read more: Exclusive: City law firm Rosenblatt appoints advisers as it looks to float

Senior partner Ian Rosenblatt, who currently owns 59 per cent of the business, will remain the largest shareholder with 21.1 per cent.

While Cascades, which is a family trust which chief executive Nicky Foulston is a beneficiary of, will hold 14.4 per cent.

Rosenblatt will becomes the fourth law firm in England and Wales to go public, following Gateley, Gordon Dadds and Keystone.

Rosenblatts float plans, which were first revealed by City A.M., are partly based on using capital raised to pursue litigation cases.

Keystone, which listed in November, announced its maiden results to the London Stock Exchange last month.

It announced a revenue increase of 23.6 per cent to £31.6m and profit of £3.27m, up 42.7 per cent from the preceding year.


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