Edinburgh-based Miller Group has indicated that it is planning to launch its own initial public offering (IPO) in order to raise funds.

The UK's largest privately owned housebuilding company has said that it is planning a range of options but the head of the company did not comment on the timing of the IPO. Miller, who has been in the top job since 1994, said that it is planning to raise funds. The company has also indicated that it has appointed advisers to consider "strategic options".

Keith Miller, the chief executive of the Edinburgh-based Miller Group, has said that the company has appointed investment bank Moelis to consider a range of alternatives including an IPO. Market analyst have said that the flotation could value the business at around £300 million. The company reported a 58 per cent rise in pre-tax profits to £10.4 million during the previous year.

Mr Miller said "well positioned to take full advantage of improving market conditions. We are looking at all the options and appointed Moelis a couple of weeks ago. We will consider the outcome of the review carefully and we are not rushing."