Department store retail chain Myer may this week announce plans for an initial public offering (IPO), reported Australian media.

According to The Daily Telegraph, the IPO would be worth at least AUD$2bn on the Australian Stock Exchange.

The Australian newspaper reported that Goldman Sachs JBWere, Macquarie and Credit Suisse would be lead managers of the move.

The company, which sells designer brand men's and women's wear, releases its annual financial results this Friday (11 September).