Gategroup has appointed Bank of America, Morgan Stanley, and UBS to prepare for a potential IPO in Zurich, according to sources cited by Bloomberg. 

The listing could take place as soon as the second half of next year.

The size, timing, and final structure of the offering remain under review. Additional banks could be added to the syndicate at a later stage, the sources said.

The airline catering group is co-owned by Temasek and private equity firm RRJ Capital. RRJ acquired the business in 2019, valuing the company at about $2.8bn.

Gategroup previously attempted to return to public markets in 2018, targeting a raise of up to $1.4bn. That process was abandoned due to weak investor demand. 

Representatives for the company, its shareholders, and the banks declined to comment.

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