London law firm Mishcon de Reya has put its plans to float on the stock exchange on hold, after saying it plans to set them aside for the “foreseeable future”.
The Silver Circle firm said it had decided to scrap its plans for an initial public offering (IPO) due to current “market conditions”.
In a statement, the firm said: “We can confirm that we have decided to put our IPO plans on hold for the foreseeable future due to market conditions.”
“We remain an ambitious and bold business with a clear strategy and vision for our future,” Mishcon added.
The decision comes as one of a series of delays to Mishcon’s long awaited IPO, after the firm last postponed plans for a public float in January whilst pointing to “volatile” market conditions.
The delay also comes after Mishcon paid a record £232,500 fine in January for breaching anti-money laundering rules.
After first raising the prospect of a market listing in 2019, Mishcon officially kicked off its plans for a public float after partners in the firm voted in favour of an IPO last September.
In floating on the stock exchange, Mishcon would become only the sixth UK law firm to float on public markets.
First established by Labour politician Victor Mishcon in the 1930s, Mishcon de Reya has forged a reputation for its bellicose attitudes, after representing high-profile figures including Deborah Lipstadt and Princess Diana.