Actera is considering a flotation for the unit, which it acquired in 2013, three sources said, declining to be identified because the information is not yet public.

JP Morgan has been mandated and a London listing is being considered, two of the people said. One of them said the IPO could happen in May.

"JP Morgan was mandated for the initial public offering," one of the sources said.

Actera was not immediately available for comment. JP Morgan and Standard Profil both declined to comment.

Standard Profil, which manufactures sealing parts for vehicles, had revenue of 390 million euros (346.74 million pounds) in 2016, according to its website. The company supplies products to global automakers including Toyota (>> Toyota Motor Corp), General Motors (>> General Motors Corporation) and Renault (>> Renault).

In addition to Turkey, the company has production facilities in Spain, Bulgaria, Morocco, China, South Africa and Mexico.

The deal would mark the latest in a wave of Turkish companies to list this year.

Separately, sources told Reuters on Monday that four Turkish firms - discount grocer Sok, clothing retailer DeFacto, high-end retailer Beymen and logistics company U.N. Ro-Ro - are all expected to hold initial public offerings in May.

Turkish firms have been taking advantage of stock prices at record levels, as well as robust international demand for Turkish listings.

(Writing by Ezgi Erkoyun; Editing David Dolan)

By Ebru Tuncay, Can Sezer and Dasha Afanasieva