The private equity backers of Italian gaming and betting business Sisal could list the company shares before the end of the year amid an uptick in European IPO interest.
A public listing of Sisal could value the business at €1.7bn including debt according to the FT, which cited people with knowledge of the matter.
Apax Partners and Permira bought into Sisal in 2006 through a €900m investment, with existing backer Clessidra continuing to hold a significant stake.
All three firms are working with UBS and Deutsche Bank to list the business, the FT added.
Sisal had EBITDA of about €172m last year, down from €184m in 2011. It had revenues of €13.8bn in 2012.
European IPO issuances have more than tripled to $18bn this year compared with the first nine months of 2012 according to Thomson Reuters data.