Knights Group eyes £103.5m valuation from initial public offering

London-based law firm Knights Group is set to place 20.68m new ordinary shares t 145p when it floats on AIM later in June.

Set to list alongside its 13.79m existing shares, Knights announced the pricing of its initial public offering on Tuesday as the law firm, one of the UK's top 100, looks to raise proceeds of roughly £50m.

As a result of the placing, Knights will have an expected market cap of approximately £103.5m, with the company netting £30m of the proceeds while existing shareholders will collect around £20m.

Knights shares will be available to trade on the AIM segment of the London Stock Exchange at 0800 BST on 29 June.