Investors see dollar signs in Aussie float

The appetite for shares in Slater & Gordon is insatiable.

With more than a week to go before Australian law firm makes its stock exchange debut, around two-thirds of the shares have already been locked up via irrevocable letters of intent from around 40 institutions.

The news of the float and the appetite of investors will do nothing to dampen the growing anticipation in the UK about similar deals over here.

But ignore the recent gossip in the market that the Legal Services Act has been derailed, delayed and is possibly defunct. Nothing is further from the truth.

In reality, the seismic upheaval in the UK legal market is on track. The legislative wheels just need time to turn.

When they do, place money on a UK firm following suit.