American private equity firm KKR & Co LP will be putting up British pet products retailer Pets at Home for an initial public offering. The Pets at Home IPO would be worth GBP1.5 billion (USD2.4 billion), according to Sky News UK insiders.

The listing will be overseen by investment banking firms Goldman Sachs & Co, Bank of America Merrill Lynch and Japanese financial holding company Nomura along with KKR's in-house capital markets division. Trading is expected to start first quarter of next year.   

KKR acquired the pet supplies retailing company in 2010 for GBP955 million from private equity firm Bridgepoint, which had tried to float it in 2009, a Reuters report said.

Pets at Home, the largest pet products retailer in the UK, operates in over 350 stores across the country. It reported a 10% rise in profits before interest, tax, decpreciation and amortization to GBP100 million. The company's year-end turnover was around GBP600 million, Reuters said.