Freightways is tipped for a share float in the third quarter this year.
Market sources say planning is underway for an initial public offering of the freight and courier company, known for brands such as New Zealand Couriers, Poste Haste, Castle Couriers, SUB60, Security Express and DXMail.
Freightwayslast year reported a bottom-line profit of $13.1 million.
On a price/earnings ratio of between seven and 10 - a typical value for the sector - the company would be worth between $90 million and $130 million.
For the six months to December, the company reported a profit of $9 million on operating revenue of $101 million.
In Auckland, managing director Dean Bracewell said Freightways would not comment on what he described as "speculation" about a float.
One market source said investment banks ABN Amro and First NZ Capital would be joint lead managers.
But a second source said the float was far from a done deal.
"It's very early days - a lot can happen between now and then."
Freightways is owned by Sydney-based ABN Amro Capital, a private equity arm of the Dutch investment bank. Capital picked up Freightways last year through buying the company's Australian parent, Ausdoc.
Freightways had been on the block as Ausdoc investigated either a trade sale or a share float for the subsidiary.
A cash buyer was in negotiations before ABN Amro Capital stepped in and grabbed the lot.
Private equity firms typically invest for three to five years and exit through trade sales or IPOs. Potential investors will ask why Capital wants to exit so quickly - and what has changed since the company was on the block.
The New Zealand sharemarket is showing signs of life after a paucity of floats last year and in the first quarter this year.
The share offer for Promina - the new name for the Australian and New Zealand operations of insurer Royal & SunAlliance - opens on April 14 and seeks to raise between $1.74 billion and $2.29 billion.
Promina will be listed on the Australian and New Zealand exchanges.
Turners & Growers, which incorporates apple exporter Enza, is described by majority owner Guinness Peat Group as likely to float in the third or fourth quarter.
The Stock Exchange itself is another company expected to list this year.
Agritech, computer and power firms Tru-Test, Jade and Vector are among those to have postponed floats.
