(Bloomberg) -- Chinese ride-hailing company Didi Chuxing has filed confidentially with U.S. Securities and Exchange Commission for an initial public offering, according to people with knowledge of the matter.

The company, which has tapped Goldman Sachs Group Inc. and Morgan Stanley as underwriters, is aiming to raise several billion dollars in the listing, the people said, asking not to be identified because the information is private.

It could be valued at as much as $70 billion to $100 billion, said the people.

The size and timing of the listing could still change.

Didi is also exploring a potential dual listing in Hong Kong at a later time, one of the people added.

A Didi representative declined to comment. Goldman Sachs declined to comment and Morgan Stanley didn’t immediately respond to requests for comment.

Didi, backed by SoftBank Group Corp., had accelerated its IPO plan as business rebounded post-pandemic. It is raising $1.5 billion through a revolving loan facility to shore up capital ahead of the listing, Bloomberg News reported earlier this month.

Reuters had reported that Didi could be filing in April.

Didi, the Chinese version of Uber Technologies Inc., acquired its U.S. rival’s China business in 2016.

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