Xenith IP Group is the holding company for the Shelston IP intellectual property law firm. Shelston handles about 5.9 per cent of the Australian patent market measured by number of applications filed and about 4.4 per cent of domestic trade mark work.

Xenith expects $4.7 million profit in the 2016 financial year on a proforma basis, which would be up from $3.5 million in 2015.

It is anticipated that XIP will list on the ASX during November 2015.