Inghams Enterprises, which sells one in every three chickens in Australia, is considering a $1bn float for its sale, which was announced in mid-2012.
According to AFR, Ingham's corporate advisor, Investec Australia, wrote to investment bankers asking on how a potential IPO would work and inviting banks to pitch for the role of joint lead manager for the float.
This is despite negotiations continuing with four prospective buyers: Chinese agribusiness company New Hope, Blackstone, Affinity and TPG.
New Hope and Blackstone reportedly withdrew from the sale last year after having their offers knocked back by Inghams' founder, Bob Ingham, but are now back in the running.
AFR reports that Inghams has an annual turnover of more than $2bn and, with rival Baiada, controls almost 70 percent of Australia's chicken-meat market. Forecast earnings before interest, tax, depreciation and amortisation for Inghams is $210m for the 2013 financial year.