Yahoo plans to return to the stock market, CEO Lanzone said in an interview with the Financial Times.

Internet media company Yahoo, and one of the top five most visited sites, wants to expand aggressively through mergers and acquisitions, Jim Lanzone further said.

The Apollo Global Management Inc. owned company has had to navigate a difficult online advertising market while marketers grapple with volatile consumer sentiment, Bloomberg reported. However, it is "financially prepared, has a strong balance sheet and we are very profitable," Lanzone told the FT, echoing comments he made in February when he laid off staff and restructured the advertising technology division.

Apollo bought the firm in 2021 and even then saw an initial public offering as a "pretty likely outcome" according to its partner Reed Rayman.

IPO activity in the technology sector has picked up significantly this year. Other major deals in the pipeline include SoftBank's IPO of Arm and Alibaba splitting into six companies, five of which may end up as IPOs.