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"flotation of" is a correct and usable phrase in written English
It typically refers to the process of making something float or the act of using a flotation device. Here is an example of how it can be used in a sentence: "The flotation of the boat was crucial in preventing it from sinking in the rough waters."
Exact(60)
He was reported to have made £125m from the 1999 flotation of Goldman Sachs.
The much-trailed flotation of the company values Google at anything between $25bn-$25bn-$50bn
The flotation of a 25% stake is expected to net £650m ($1 billion).
Anthony specialized in flotation of government bonds, railroad organization, mining development, and urban real estate.
For some time, Tata has been considering a flotation of the company.
If the deal goes ahead, it will be the first major London flotation of 2016.
A few years ago TUI called off a flotation of Hapag-Lloyd because of weak markets.
The flotation of Madagascar Oil must go down as this year's most unfortunate.
It had already scrapped a flotation of both companies in 2010.
BT has announced a partial flotation of Yell.com, an information service.
2014 Flotation of US airline Virgin America on Nasdaq valuing it nearly $1bn.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com