Yet again the firm is a national boutique rather than a leviathan...be a while before we see Clayton Utz or Mallesons thinking about becoming a public company..
News.com.au reported this past week that Law firm Maurice Blackburn may be eyeing a? float on share market. The firm is Melbourne-based, it has 18 offices throughout Victoria, NSW, Queensland and the ACT and for those of you who like a useless fact Australian Deputy Prime Minister Julia Gillard once worked for the firm.
Maurice Blackburn generated $61.3 million in revenue in fiscal 2008 and paid out $6.3 million in dividends and salaries to its then 16 equity partners, according to accounts lodged with ASIC. Dividends were $10.3 million the year before.
News .com.au write:
LAW firm Maurice Blackburn is reviewing its corporate structure and will not rule out a stock market float.
It's believed the firm has engaged Sydney boutique advisory Oaktower Partnership to guide it on its strategic options.
A stock market listing would see the 90-year-old firm sit alongside rival personal injury specialists Slater & Gordon, which was floated almost three years ago.
Maurice Blackburn chief executive Greg Tucker told said the firm was doing a strategic review of the business, but declined to give details.
He refused to rule out a float, which sources suggest could be around the $100 million-mark.
"We never dismiss any options," Mr Tucker said. "(But) we have no present intention of listing."
Maurice Blackburn represented workers in the landmark waterfront dispute against Chris Corrigan and the Howard Government in the late 1990s.
http://www.news.com.au/business/law-firm-maurice-blackburn-may-be-eyeing-float/story-e6frfm1i-1225826965294
