MHA targets £125m funding for London IPO

MHA had confirmed its intention to seek admission to trading on AIM, a market operated by the London Stock Exchange, in the coming weeks, with plans to raise up to £125m through a placing of shares.

The firm’s directors said the float would provide a “strong platform for the group to strengthen its market position as a fast-growing accountancy firm, enhance its profile with existing clients, target  clients, introducers of new business and potential acquisition targets, and continue to attract, incentivise, develop and retain staff”. 

The firm added that it also plans to offer retail investors the chance to subscribe for new ordinary shares through the BookBuild platform, aiming to  raise up to approximately £6m before expenses. 

Cavendish Capital Markets Limited is acting as nominated adviser, bookrunner and broker for MHA.

Rakesh Shaunak, managing partner and group chairman, said: “Announcing our intention to float on AIM marks an exciting milestone for MHA and our people – one  that we believe will be best suited to the London market. 

“An IPO would represent the next stage in our evolution, creating a platform for further expansion while  preserving the values and approach that have underpinned our success to date. It would bring together  partners and new investors with a shared ambition to scale MHA faster, drive innovation, and capitalise  on market opportunities.”

He added: “Crucially, it would allow us to offer equity participation to future partners and  leaders, ensuring they have a direct stake in the firm’s continued growth. The additional capital would  enable us to accelerate expansion and enhance our capabilities, helping us move more efficiently and  sustainably towards our medium-term goal of exceeding £500 million in annual revenues. 

“We look forward to taking the next steps on this journey and building on the strong momentum we have  created, while continuing to deliver the highest standards of service that define MHA.”