Foreign exchange provider Travelex is reportedly reaching out to potential buyers even as it pursues a stock market listing likely to value it at more than £1 billion.

Sky News claimed Goldman Sachs has approached companies including American Express and a number of Asian banks to gauge their interest in a potential takeover of Travelex.

The process remains at an early stage and it is unclear whether any of those being sounded out have expressed a serious interest in further discussions.

Among the other parties understood to have been sounded out is Industrial & Commercial Bank of China.

Travelex and its shareholders are pursuing an initial public offering as their preferred option, and have engaged headhunters to recruit additional board members as the company prepares to go public.

Chairman and second largest shareholder Lloyd Dorfman would remain as chairman if Travelex opts for a listing, probably in the third quarter of the year.

Apax Partners, the private equity group, has owned a controlling stake in Travelex since 2005 and is keen to sell its stake.

City sources told Sky News last month said that JP Morgan was focusing on an IPO, while Goldman had been asked to field approaches from potential buyers of the company.

A Travelex spokesman declined to comment on the report.