The KION Group is withholding comment on the rumours that its private equity owners, KKR & Co (KKR) and Goldman Sachs Group Inc (GS), have enlisted banks to handle the initial public offering (IPO) of the forklift maker.

According to a Bloomberg report, industry insiders say Morgan Stanley has been added to a list of financial institutions that already includes GS, KKR's equity capital markets arm and Deutsche Bank AG.

The insiders say the IPO could happen before July if markets are stable, and KION may sell up to 24% of its stock.

The forklift maker posted earnings before interest, taxes, depreciation, amortisation and some items of EUR747 million (USD977 million) last year. The owners are seeking a valuation of about 10 times the estimated 2013 Ebitda, according to the report.

"We decline to comment," says KION head of communications Michael Hauger.

Kion was part of German industrial gas maker Linde AG before being acquired by KKR and GS in 2006.