PA has appointed Investec Henderson Crosthwaite to advise it on the flotation.
UbiNetics, which makes high-end consumer products in the wireless data area and testing equipment for mobile technology, was valued at £300m in a pre-IPO funding round in November. PA is understood to be looking for a value substantially in excess of this.
Reports have suggested that the company could be valued at between £600m and £1bn, which would value PA's 66 per cent stake at between £400m-£660m.
PA said UbiNetics completed the pre-IPO funding in November, "prior to a planned IPO".
The funding raised £35m from institutional investors, and £15m from PA. The company was valued at £300m including the new money.
UbiNetics is the world leader in testing equipment for third generation mobile technology. It makes testing equipment which simulates a handset, to determine how the networks will work, and now many base stations will be required.
PA will today reveal a 6 percent increase in revenues in 2000 from £304.8m to £322.4m. Profits before bonuses rose 13 percent, form £88.1m to £99.7m. Profits after tax almost doubled from £25.3m to £47.3m.
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