KKR & Co (KKR) has hired Morgan Stanley (MS) to work on a possible initial public offering of Japanese logistics operator Logisteed, Bloomberg reported Wednesday, citing people familiar with the matter.

KKR met with Morgan Stanley recently to prepare for an IPO of Logisteed that may launch in 2027, Bloomberg reported, adding that other banks will likely be added later. KKR acquired Hitachi Transport System, which is now known as Logisteed, in early 2023 and delisted it, according to the report.

KKR, Morgan Stanley, and Logisteed did not immediately respond to requests for comment from MT Newswires.

Shares of KKR were up 8% while shares of Morgan Stanley were up 5.2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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