MHA Listing Raises £98 Million as It Eyes Further Acquisitions

UK accounting firm MHA raised £98 million ($130 million) in its London stock exchange debut Tuesday, around a fifth less than it initially hoped for.

But shares in the UK’s 13th-biggest accounting firm had rebounded about 2.5% in early trading, as it announced bullish expansion plans.

MHA is part of the Baker Tilly international accounting network of firms.

“The important thing was to keep control,” Rakesh Shaunak, MHA’s CEO, said by phone Tuesday, explaining the decision to list on London’s Alternative Investment Market rather than taking on private equity investment as other Baker Tilly firms in the US ...