DWF has confirmed that it is considering an initial public offering (IPO) on the London Stock Exchange, in what would be the largest UK law firm listing to date.

The potential listing, which would see it become the sixth UK law firm to go public, is one of "a number of strategic options" the firm is looking at as part of its plans to increase investment in technology and its 'Connected Services' business.

In a statement, the firm said: "To enable us to deliver on our strategy and for us to better serve our clients through an increasingly international and differentiated offering, we have plans to increase our investment in information technology and Connected Services.

"The current corporate structure of our business continues to work very well and has enabled us to deliver our key business objectives with record growth this year – but as a business which is committed to 'doings things differently' it is also important to consider alternative structures which can set us apart from other legal businesses.

"To that end, we have been considering a number of strategic options for our business, including the possibility of an IPO on the London Stock Exchange. If we were to proceed with an IPO, we believe that it would enable us to achieve our strategic objectives more quickly, while also enhancing our ability to attract and retain the best talent and to incentivise our people by aligning them through offering ownership within the business.

The firm added that while it is focused on an IPO, "a number of options are available".

The firm's Connected Services arm is a standalone business that sits alongside DWF's core legal offering, incorporating its in-house advocacy team, tech consultancy DWF 360, a claims management business, a forensic accountancy arm, research and development division DWF Ventures and its resourcing and consultancy offerings.

If DWF goes ahead with a float, it will follow the lead of Gateley, which became the first UK law firm to list in 2015, and Gordon Dadds, which joined the public markets last summer via a reverse takeover of AIM-listed marketing company Work Group.

Two other UK firms have listed on AIM this year – Keystone Law and Rosenblatt – while regional firm Knights announced it is set to float later this month.

DWF posted revenue of £201.3m for the 2016-17 financial year, up from £187.1m the preceding year. However, PEP fell to £305,000 from £338,000. Equity partner numbers grew 5.8% to an average across the year of 68.9 and total partner numbers grew 9.4% to an average of 275.8.

In November the firm announced a 23% increase in revenue for the first half of 2017-18, with turnover for the six month period hitting £113.5m.

News of the plans comes after the firm last year recruited former DLA Piper chairman Sir Nigel Knowles as its new chairman – a rare high-profile example of a former law firm leader joining another firm in a management capacity.

The expansive firm has grown rapidly in recent years, with managing partner Andrew Leaitherland - who was last year reappointed for a fifth term in the top job – open about his ambitions for growth.

While the firm's initial focus was on the UK, it has more recently turned its attention to international development. Last year it opened its first office in Italy, with the hire of a 16-strong Milan team led by four partners, while in February it launched in Qatar and expanded into Istanbul through an alliance with local firm Ozkan Law, with its Australia presence also gset to grow with the addition of a fourth office in the country.

Two years ago, Gateley became the first UK law firm to go public, raising £30m in its pioneering London float in June 2015. The firm posted double-digit increases in revenue and profit for the 2016-17 financial year, in its second set of annual results since the listing.

In comparison, Australia's Slater & Gordon – which became the world's first listed law firm in 2007 – has been beset by difficulties, and last year split off its UK operations from the wider firm following a strategic review.

After Slaters' share price tanked and losses exploded in the wake of its disastrous 2015 acquisition of the professional services arm of Quindell in the UK, New York hedge fund Anchorage Capital and other senior lenders are set to control the firm's future in the UK.