Chinese mainland truckmaker Xuzhou XCMG Automobile Manufacturing Co is considering listing shares in the Hong Kong Special Administrative Region, people familiar with the matter said.

The Jiangsu-based company aims to raise as much as $500 million in a share sale possibly as soon as this year, according to the people, who asked not to be identified to discuss private information. Deliberations are ongoing, including on details such as the size and timing of a deal, the people added.

XCMG Auto didn’t immediately respond to a request for comment.

ALSO READ: Hong Kong IPOs lead global ranking

XCMG Auto makes heavy-duty trucks — including electric, hybrid and hydrogen fuel cell-powered — for use in areas such as highway logistics, construction engineering, municipal sanitation and mining. The company last year said it raised about 6.4 billion yuan ($940 million) from 30 investors.

Hong Kong listings have raised $19.4 billion already this year, data compiled by Bloomberg show.