Gateley LLP is set to become the first law firm to float on the London Stock Exchange.

The firm is currently an alternative business structure, meaning that it can be owned, run and financially supported by non-solicitors. As reported by Legal Business, now Gateley is consulting with the investment bank Cantor Fitzgerald to float later this year, with the aim of achieving a valuation of around £130 million. The move would see Gateley become the first publicly listed law firm.

Gateley posted revenues of over £71 million in 2013.