Thursday, May 24, 2007

Ideoblog: The first exchange-listed law firm

I guess more note revamping is in the works.

From Ideoblog: The first exchange-listed law firm:
"Slater & Gordon Ltd . . . became the first law firm in the world to list on a stock exchange on Monday. Already the firm's principals along with initial investors have booked a princely premium with the stock closing at $1.40, after gaining 40 cents on the initial public offer (IPO) price."
Law firms and accounting firms have been the traditional examples of firms that do not go public but remain partnerships. If Slater and Gordon start a new trend, it will be interesting to watch how the public law firms perform (and whether they behave differently as a result of their going public.)

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