Sources estimate the value of the agency at £75 million. The stakes of the partners, Charles and Maurice Saatchi, Bill Muirhead, David Kershaw and Jeremy Sinclair, account for about three-quarters of that figure.
Now all have agreed to sell some of their holdings on AIM, the London Stock Exchange market which allows small companies to float without excessive expense and under more flexible rules than on the main market.
If the initiative goes according to plan, a proportion of M&C Saatchi shares could be in the hands of up to 20 institutions by the end of the year. However, the company's new status will not impact on the shared ownership of its Walker Media associate.
The main aim of the flotation is to bankroll the agency's plan to establish start-up operations in France, Germany, Spain and Italy.
At the same time, it will allow the founders to get a reward out of the agency they established in 1995, after their acrimonious exit from the then Saatchi & Saatchi group. However, it is understood that all the partners have committed themselves to the agency and are willing to abide by agreements that would lock them in.
The flotation will precipitate a major revamp in the M&C Saatchi management, which will end the double act of Nick Hurrell and Moray MacLennan, the joint chief executives of the London agency.
Hurrell will become the chairman of the European division with a brief to establish new offices and find the executives to manage them.
MacLennan takes over as the chairman of the UK group, which includes specialist integrated marketing and PR companies.
Tim Duffy, currently the managing director of the agency with responsibility for its flagship British Airways business, is being promoted to chief executive. Tom Dery continues to head the group's Asia-Pacific operations.
The four are among about 20 senior managers whose equity will be converted to company shares after flotation.
Until now, Europe has not been a priority for M&C Saatchi, which has opened offices in Australia, the Far East and North America.
Kershaw said the flotation would not only allow the company to sustain its policy of remaining debt-free, but to retain its independence.
A CHRONOLOGY OF ADVERTISING'S FLOTATIONS
1983: The then Wight Collins Rutherford Scott joins the Unlisted Securities Market. On the first day of dealings, its shares double in value. As WCRS, the agency's senior managers are currently negotiating a buy-out from its Havas parent.
1983: Boase Massimi Pollitt goes one better by seeking a full Stock Exchange listing, joining Saatchi & Saatchi and Geers Gross as quoted UK agencies. It famously fought off a hostile takeover attempt by France's BDDP. As DDB London, the agency is now owned by Omnicom.
1984: Lowe Howard-Spink Campbell-Ewald, then the UK's 16th-largest agency, goes for a full listing through an offer for sale of around 30 per cent of its shares. Subsequently acquired by Interpublic, which merged it with Ammirati Puris Lintas.
1985: Davidson Pearce, then ranked the seventh-largest UK agency, floats. One-third of its shares are offered for sale, valuing the group at about £18 million. Agency later subsumed into BMP.
1985: Abbott Mead Vickers becomes a public company, offering 3.66 million shares at 180p each. The sale of 29 per cent of its equity raises £6.6 million and is over-subscribed 30 times by would-be investors. Six years later, AMV merges with BBDO under the Omnicom umbrella.
1985: Yellowhammer joins the USM, generating almost £3 million. Jon Summerill, its chairman, pockets £1.95 million but declares: "I don't feel guilty." The agency is later rescued by D'Arcy Masius Benton & Bowles.
1986: Gold Greenlees Trott joins the Stock Market through an offer for sale of 34.6 per cent of its issue capital. Three million shares at 165p each are realised, capitalising the agency at £14.3 million. Later the loss of its Procter & Gamble business wipes 40 per cent off its share value and Omnicom buys it for $235 million.