DWF considers stock exchange float

International law firm DWF is considering a flotation on the London Stock Exchange, the practice confirmed today following a newspaper report.

Such a move would make it the sixth and by far the largest UK law firm to become listed to date. It is being predicted that a share sale could raise up to £1bn.

In a statement today, the firm said an initial public offering (IPO) would enable it to invest further in information technology and connected services. "As a business which is committed to 'doing things differently', it is also important to consider alternative structures which can set us apart from other legal businesses. To that end, we have been considering a number of strategic options for our business, including the possibility of an IPO on the London Stock Exchange.

"If we were to proceed with an IPO, we believe that it would enable us to achieve our strategic objectives more quickly, while also enhancing our ability to attract and retain the best talent and to incentivise our people by aligning them through offering ownership within the business.

"We are focused on an IPO; however, a number of options are available to us, and we can still continue to build on our success to date, with the support of our clients, under our current structure."

Any flotation would have to exclude DWF's Scottish practice, without legislation in force permitting non-lawyer ownership of Scottish solicitors' firms.