Equity capital markets bankers have started turning their attention to the pipeline in 2022 for initial public offerings, and Coates Hire Limited is one potential candidate that is gaining plenty of attention. Speculation has been mounting that Seven Group Holdings Limited (ASX:SVW) has been weighing options for its $2.2 billion Coates hire equipment rental business and many say that when it comes to a float, it is an ideal candidate. Sources believe an initial public offering of Coates Hire would be well received by equity investors while industry conditions are booming. And Seven may make a move to sell it in the coming months while those conditions continue so it can achieve top dollar and free up cash to make acquisitions elsewhere. Another possibility is that Seven demerges the business, although sources believe a float is more likely.