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MHA PLC shares began trading on London’s AIM market on Tuesday, after the accountancy and professional services firm raised £98 million as part of its initial public offering. The Milton Keynes-based company, which provides audit, tax, accountancy and advisory services, priced its shares at 100 pence, giving MHA an opening market capitalisation of £271 million. The shares were up 2.5% at 102.50 pence in its first morning of trading. MHA issued just over 98 million new shares in the fundraising, with a free float of approximately 36%. The share placing raised £95.8 million from institutional and other investors, while a retail share offer contributed £2.2 million. The net proceeds from the IPO will be used to invest in growth-enabling technology such as AI, repay partner loan notes, and support further bolt-on acquisitions, MHA said. Chair Geoff Barnes said the IPO marks ‘the next exciting stage’ in MHA’s evolution, enabling the firm to scale more rapidly, broaden its capabilities and attract talent through equity participation. ‘To have delivered such a strong fundraising outcome in the face of recent market volatility speaks to the quality of the business,’ Barnes added. MHA is the 13th largest accountancy firm in the UK by revenue, according to Accountancy Today, and MHA says it is one of the fastest-growing in the top 20. The group has a medium-term ambition to become a top-10 firm with annual revenue above £500 million. It has grown revenue at a compound annual rate of nearly 14% over the past decade, and 87% of its FY24 revenue was recurring. Its recent acquisition of Moore and Smalley LLP added around 400 employees and £30 million in revenue. The group is also a member of the Baker Tilly International Network, which spans over 140 territories globally. Cavendish Capital Markets acted as nominated adviser and broker for the IPO. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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