Technology firm BMC Software, which is backed by private equity powerhouse KKR, reportedly filed confidential plans for an initial public offering (IPO) in the US that could value the company at approximately $14 billion to $15 billion, according to several media outlets.

News of BMC’s filing comes as the US IPO market begins to show some signs of recovery having been largely stagnant last year with many startups choosing to postpone stock market flotations until investor appetite improved.

According to data from Dealogic, last week was the busiest in terms of stock market listings in 15 months with five listings completed raising around $1.17 billion in proceeds, a sixfold increase from the previous week.

Founded in 1980, BMC was publicly listed until 2013, when it was taken private by private equity firms Bain Capital Private Equity, Golden Gate Capital, GIC, Insight Venture Partners and the activist hedge fund Elliott Management LLC. In 2019, BMC found a new owner when it was acquired by KKR & Co. LP. for about $8.5 billion.

BMC declined to comment on the news, but Bloomberg reported that it has chosen Goldman Sachs as its chief underwriter. Bloomberg said the IPO plans are by no means set, and the company could still pursue strategic alternatives, such as another sale.