The accountancy firm MHA is facing challenges in reaching a £125m fundraising target as part of its plans to list its shares on the London Stock Exchange. According to Sky News, MHA has managed to secure commitments for approximately £100m of stock from investors, valuing the firm at around £275m post-money by the middle of this week.
City sources have indicated that the deal is expected to be presented to the firm’s partnership for approval in the coming days. MHA, which is part of the Baker Tilly international network, is venturing into the uncommon territory of publicly listing its shares in the accountancy sector.
While most major firms in the industry are owned by their partners, the UK branch of Grant Thornton recently sold a majority stake to the private equity firm Cinven. The decision to float MHA’s UK firm comes amidst global market instability caused by Donald Trump’s tariffs onslaught.
If the process moves forward, shares in MHA are anticipated to start trading this month, as mentioned by an insider at the firm on Thursday. Despite the challenges, one insider expressed confidence in the firm’s ability to successfully launch the Initial Public Offering (IPO).
The potential listing coincides with regulatory scrutiny into MHA’s audit of the collapsed construction company ISG. A spokesperson for MHA has chosen not to provide any comments on the matter.
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