KPMG Consulting is to issue shares in the USA in a bid to raise #1.8bn for investment and expansion. A filing with the Securities and Exchange Commission reveals the firm is hoping to sell more than 300m shares priced between #4.50 and #5.80 which should produce a value for the organisation of around of #3.4bn. KPMG has yet to make any public statement about the share issue but details from the SEC reveal partners will retain only 20% of the firm. Proceeds from the shares could be used to pay off existing debts, provide working capital and fund expansion by acquisition.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast