Three West Australian firms are set to make legal history with a proposed IPO and listing on the Australian Stock Exchange (ASX).
Perth-based Integrated Legal Holdings (ILH) plans to raise A$14m (£5.61m) through the IPO and intends listing on the ASX on 12 December, according to a prospectus filed on 9 October.
ILH plans to spend A$10m (£4m) of raised funds acquiring Perth-based practices Talbot Olivier, Durack Zilko and tax law boutique Brett Davies Lawyers, as reported on www. thelawyer.com (10 October).
Under the structure, the firms will still operate under their own brands, but will come under the ILH umbrella.
Western Australian corporate boutique Steinepreis Paganin is advising ILH on the IPO. Australian law allows non-lawyers to control ownership of firms in New South Wales, Victoria and Western Australia.