Chicken producer Tegel is expected to launch a transtasman public share offer early next year after its private equity owner ditched plans to find a trade buyer for the Auckland-based firm.
Affinity Equity Partners hired investment banks Goldman Sachs and Deutsche Bank this year to sell Tegel.
The company was shopped around potential trade buyers, including major overseas players, but that process wound up last week and Affinity will now look to launch marketing for an initial public offering and dual NZX/ASX listing during the first quarter of 2016, according to an Australian media report.
Sources have previously indicated the IPO could value Tegel at up to $1 billion.
Affinity purchased Tegel for $605 million in 2011 from Australian private equity firm Pacific Equity Partners.
PEP bought the chicken firm in 2005 for around $390 million.
Tegel is New Zealand's biggest poultry producer, with operations across the country and about 1700 staff.
Its holding company, Ross Group Holdings, reported a $14 million profit, from revenue of $517.2 million, in the year to April 27, 2014.
Tegel management hold a minority stake in the firm, which has been growing exports to markets in Asia and the Middle East.