Macquarie, the Australian bank bidding for the London Stock Exchange, is planning a A$1bn (€615m) initial public offering of explosives group Dyno Nobel - just four months after buying it.

The decision to float so soon after acquisition would be one of the fastest "quick flips" of recent years, and is in stark contrast to the 25 year time horizon that Macquarie has said it will hold on to the LSE if its hostile bid is successful.