UK research and technology group Qinetiq is on track for a flotation at the start of next year. The company has hired investment bank Morgan Stanley to carry out a readiness study for the flotation. The company said in 2003 that a flotation could take place within 3-5 years. Qinetiq says any possible initial public offering depends on the state of the market and the company's activities at the time.

Source: Flight International