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Accountancy firm MHA struggles to hit £125m IPO target
The accountancy firm MHA is struggling to hit a £125m fundraising target as part of plans that would see its shares listed on the London Stock Exchange.
Sky News has learnt that MHA had succeeded in securing commitments for roughly £100m of stock from investors at a post-money valuation of about £275m by the middle of this week. City sources said the deal was expected to be put to the firm's partnership ahead of an announcement in the coming days.
Money latest: Pension top-up deadline just days away The firm, which is part of the international network called Baker Tilly, is attempting to take the rare step in the accountancy sector of listing its shares publicly. Most major firms are owned by their partners, although the UK arm of Grant Thornton recently sold a majority stake to Cinven, the private equity firm.
A flotation of MHA's UK firm is also being undertaken against a backdrop of global market volatility triggered by Donald Trump's tariffs blitz. If it does proceed, shares in MHA are expected to commence trading this month, one insider at the firm said on Thursday.
One insider said the firm remained "bullish" about getting the IPO away. If it goes ahead, the listing will come as regulators probe MHA's audit of the failed construction firm ISG.
A spokesman for MHA declined to comment..
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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