The group said it expected to raise up to £12m from the flotation, but said it hoped to achieve its core growth objectives with considerably smaller sums.

It also intends to pursue its growth strategy of continued organic development, coupled with the acquisition of individual experienced practitioners and small practices, and increase its scope and range of services.

Commenting on today's announcement, Ric Traynor, executive chairman of Begbies Traynor, said: As a publicly quoted company our size and range of activities will be considerably more visible to our target corporate market, and should strengthen our hand when we are competing for larger assignments.'