US private equity giant Blackstone group has announced it intends to sell $4 billion (£2 billion) worth of shares.
The flotation aim could see the Park Avenue-based firm, one of the largest private equity firms in the world, reach a valuation of $40 billion (£20.3 billion).
However the group did not make public the number of shares up for sale nor the price it would be demanding when the flotation aim was confirmed to US regulators.
The Blackstone group are one of three firms reported in February to be interested in the takeover of Britain's third-largest supermarket Sainsbury alongside fellow New Yorkers Kohlberg Kravis Roberts and European firm CVC Capital Partners.
Although no proposals have yet been received from the possible suitors, the firms have until April to come forward with an offer. In February the supermarket chain stated the three firms were "at the preliminary stages of assessing Sainsbury".
Founded in 1985, the group agreed the largest private equity deal in history at the time last November when, through its affiliate Blackstone Real Estate Partners, it acquired billionaire Sam Zell's Equity Office holdings for about $39 billion (£19.8 billion).
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