MHA confirms float date and £269m valuation
MHA, the 13th largest accounting firm in the UK, has announced that it will proceed with its listing on the London Stock Exchange, despite the ongoing market volatility caused by economic uncertainties.
The firm plans to raise up to £101.8 million through the IPO, with £95.8 million from a placing and approximately £6 million from a retail offer.
In its announcement, MHA revealed that it would offer up to 274,999,985 ordinary shares, including existing shares and new placing shares, with 55.7% of the shares remaining in private hands after the listing.
The anticipated market capitalisation at the placing price is £269 million.
MHA has grown significantly over recent years, with a ten-year revenue compound annual growth rate (CAGR) of 13.7%, and a large portion of its growth attributed to strategic acquisitions.
In the past year, it acquired Moore and Smalley, which added £30.4 million to MHA’s revenue.
The firm, which operates both in the UK and internationally through its membership of the Baker Tilly Network, plans to use the proceeds of the IPO to further expand through acquisitions, focusing on building its network and investing in technology and talent.
The firm’s leadership team, including CEO Rakesh Shaunak and CFO Steven Moore, is steering the IPO as part of a broader strategy to strengthen MHA’s position in the market.
The IPO is scheduled for 15 April 2025, with full details of the applicant and securities available through MHA’s official website.
In addition to its ambitious growth plans, MHA’s IPO marks an important milestone in its strategy to become a top 10 UK accounting and professional services firm, aiming for annualised revenues exceeding £500 million in the medium term.
The IPO also demonstrates MHA’s commitment to leveraging its strong growth trajectory and expanding its reach in the accounting sector, despite ongoing challenges in the global market.
