Having raised £98m through an institutional placing and retail offer, its market cap on admission was £271m, the largest AIM IPO in the business support services sector over the past five years.

The flotation is a result of the unanimous decision by the MHA Board and endorsed by the partners to pursue the option of an IPO as the most attractive, sustainable route for the long-term benefit of its people and its clients.

Rakesh Shaunak, chief executive officer of MHA said:

“This is an exciting day for our firm, our people and we believe a welcome one for the London market. We have been delighted by the positive response we have had from investors and our clients since we announced our intention to float last month.”

“With the substantial amount of capital raised, MHA can make investments in technology, in particular Artificial Intelligence, as well as fund further acquisitions to become an even more attractive proposition to new recruits at both a senior and entry level. Control of our strategic destiny will very much remain in the hands of our Board and our partners.

“Going down the IPO route will also give our people a real stake in the future of our business via a significant employee benefit trust. And 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.”