IT recruiter SThree will float on the Stock Exchange – but chief executive Russell Clements (pictured) insists that the timing must be right.

Industry sources have claimed that SThree could challenge Spring for the title of the largest listed IT recruiter in the country if it goes ahead with the initial public offering.

“I have always said when the market conditions are right, then we intend to float,” he told Recruiter.

“It will be when the market will support a valuation of that company that is appropriate. But we are under no pressure and we will only do it when we think we will have a receptive audience.”

Newspaper speculation that SThree had gone as far as appointing brokers set tongues wagging in the IT recruitment industry – but Clements said this was only rumour.

The IT slowdown in 2001 put paid to a previous attempt at listing, but the firm has retained its City contacts.

“We came close to floating a few years ago, and we kept in touch with people then, and we are still talking to them,” Clements said.