Didi Chuxing, China’s largest ride-hailing service provider, is considering an initial public offering in Hong Kong that is expected to value the company at USD 70 billion to USD 80 billion, according to a report by Hong Kong Economic Times, citing unidentified people.

The Beijing-based company is preparing to list as early as the second half of this year and is open to options including weighted voting rights, said Wednesday’s report, which cited people familiar with the situation who don’t want to be identified because the information isn’t public.

In response to an e-mail inquiry, a Didi representative said it doesn’t comment on listing plans.

Market speculation over a Didi IPO has been mounting for the past year. According to the HKET report, Didi has been in pre-listing consultations with investment banks since April.

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