In a vote of confidence on the UK property market, US majority shareholder Oakwood is in discussions with banks to offer the estate agency chain with 46 high street brands, including Hamptons International and Bairstow Eves.
This could be one of the most significant listings since the housing market collapsed in 2008.
Countrywide was previously listed but taken private in 2007 and beset by debt, but in 2009 private equity group Oakwood led a deal that saw it write off 75 per cent of its loans and inject £110m of fresh capital.
The FT reported the private equity group has overseen a wide scale restructuring of its operations, including personnel changes among the senior management team.
The group, which employs 10,500 people, has opened more offices in London and regalvanised its brokering division with the acquisition of Mortgage Intelligence Holdings arranging £4bn worth of mortgages in 2011.
Countrywide was unavailable for comment.
