Yildiz Holdings has applied to the Turkish Capital Markets Board to list 45% of its dairy unit, AK Gida.
The company filed the application on Friday (13 March). Yildiz had previously confirmed plans to list the dairy business back in January but had not detailed whether it planned to retain a stake in the business.
The group did not release any further details about the IPO.
Yildiz is understood to be working to simplify and consolidate its portfolio, which includes international packaged food brands such as United Biscuits and Godiva chocolates. The company is also said to be preparing to sell its stake in personal care group Azmusebat Steel.