The British government may opt for a £3.8 billion IPO of UK Green Investment Bank Plc rather than a sale, The Sunday Times reported Jan. 22.

The paper reported that Business Secretary Greg Clark could scrap a deal to sell the bank, which has come under scrutiny following suggestions that potential buyer Macquarie Group Ltd. may strip it of its assets.

The government admitted that an IPO is possible but said the sale process is not about to be aborted, the Financial Times reported Jan. 22. Rival bidder SDCL is apparently still interested in buying Edinburgh-based Green Investment Bank, which invests in eco-friendly projects.