The France-headquartered investment house has taken the first step towards floating on the stock market as a standalone business.

Amundi, the Europe-headquartered investment house with €954 billion ($1.082 trillion) of client assets that was formed in 2010 as a venture by Crédit Agricole and Societe Generale, has registered documents with French authorities ahead of a planned initial public offering.

The two French banks that formed Amundi announced a float of the business, one of the largest asset managers in the world, in June this year.

The investment firm has registered with the Autorité des marchés financiers; this is the first step towards its IPO on the Paris Euronext exchange, a statement from the firm said last week. The completion of any IPO is subject to receiving the AMF’s visa on the IPO prospectus, as well as the state of the market.

The organisation has two client bases: retail clients (€251 billion AuM as at 30 June 2015) and institutional clients (€703 billion AuM). The firm says it is expanding its distribution networks in Asia and Europe.