LONDON: Charlie Mullins, head of Pimlico Plumbers, is said to be eyeing a £50m flotation.
The west London company is in talks with brokers Dawn Traders over a potential listing in Q1 of 2011.
Mr Mullins, who founded the firm in 1979 and pays himself £1m a year, plans to hold a 50% stake in his business.
"The proceeds from a listing would allow the business to expand outside the M25 and nationwide," he said. "It would also give our customers a chance to buy shares."
Pimlico Plumbers accounts show profits of £343 168 for the 12 months to the end of May 2009. Sales increased to £12.6m from £11.9m the previous year.
