04:16 PM EST, 11/15/2024 (MT Newswires) -- On Thursday, CI Financial ( CIXXF ) CEO Kurt MacAlpine said the Canadian company may resurrect its plans to take its U.S. wealth management business public in 2026. It first announced plans for a U.S. IPO in April 2022, according to a report Friday from Barrons.com.

The company has been focused on "rapidly" expanding the U.S. wealth unit and the opportune time to separate the business will "probably" be in early to mid-2026, MacAlpine said on an earnings call with analysts, the report notes.

"We've been laser-focused, heads down on driving maximum integration, maximum growth, really setting up the business to continue to scale, which we've done," he said. "But we'll continue to keep an eye on markets, see how the IPO market unfolds, and then look at the timing as it relates to all those factors."

A representative for CI Financial ( CIXXF ) declined to comment further.

Last year, the report noted, Toronto-based CI Financial ( CIXXF ) paused plans to pursue an IPO for its U.S. wealth unit and instead sold a 20% stake in the unit to a consortium of investors that includes the Abu Dhabi Investment Authority and private-equity firm Bain Capital. CI Financial ( CIXXF ) rebranded the U.S. wealth unit Corient in August 2023.

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