UK-based discount retailer Poundland is understood to have started the process to float on the stock exchange early next year.
According to The Daily Telegraph, private-equity owner Warburg Pincus is looking to raise between GBP200m (US$323m) and GBP300m from the IPO, which has been rumoured for months. This would value the retailer at between GBP700m and GBP800m.
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In May, Warburg Pincus was reported to be looking at a sale, although Poundland declined to comment on the speculation.
A spokesperson for Poundland, however, declined to comment on the latest report.
The 450-store group, which Warbug Pincus acquired from fellow private-equity outfit Advent International for GBP200m in 2010, is looking to expand.
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Last month, the group said it was finalising plans to take its Dealz banner, launched in Ireland in 2011, into more markets in Europe.
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By GlobalDataIn the year to the end of March, Poundland booked higher profits on the back of higher sales. Profit was up 59.1% at just under GBP17m. Operating profit climbed 13.7% to GBP35.3m.
Total sales were up 15% at GBP880m.
