News

Three Australian Law Firms Plan December IPO 
Posted on Wednesday, October 11, 2006 - 10:00 AM

Three Australian law firms - Talbot Olivier, Durack Zilko and Brett Davies Lawyers - may become the first-ever listed legal practices, following the launch of Integrated Legal Holdings’ (ILH’s) A$14m initial public offering.

The three firms will all become 100%-owned subsidiaries of ILH, which hopes to list on the Australian Stock Exchange on 12 December 2006.

The move follows changes in the law to allow law firms to be owned by non-lawyers in some Australian states, including the country’s largest legal markets, New South Wales and Victoria.

In UK, following the Clementi Report, radical reforms to the legal profession may pave the way for outside investors to buy into UK law firms.