Belron is exploring one of Europe’s biggest initial public offerings in years as backers of the car glass repair group seek to cash in their investments. Belron’s majority owner, Belgian conglomerate D’Ieteren Group, said on Wednesday that its shareholders were “evaluating strategic options regarding the minority shareholder stakes” in the world’s largest windscreen replacement and repair business, including a potential listing. The FT previously reported that Belron’s owners were targeting a listing in Amsterdam at a valuation of more than €30bn as soon as next year.

Wednesday’s announcement is the first public confirmation by Belron’s majority owner of the planning for a potential listing, which could spark investor hopes of a revival in Europe’s IPO market. Europe has suffered a slowdown in contrast to the US, where big tech and AI companies are ploughing ahead with mega listings this year. No decision had been made regarding timing or options for a European flotation of Belron, which owns Autoglass in the UK, Carglass in Europe and Safelite in the US, D’Ieteren said.

It did not comment on the potential valuation it expects in any listing of Belron, which is led by Carlos Brito, the former head of brewer AB In Bev. D’Ieteren Group, which has backed businesses including notebook maker Moleskine, and US private equity group Clayton, Dubilier & Rice, had previously discussed options including an IPO in New York, but selected Amsterdam as the preferred venue, people familiar previously told the FT.