Chinese mainland's budget carrier Spring Airlines Co is considering a listing in the Hong Kong Special Administrative Region, possibly next year, people familiar with the matter said.

The Shanghai-headquartered airline has picked JPMorgan Chase & Co and UBS Group AG to work on the share sale, according to the people, who asked not to be identified because the information is private. It could raise several hundred million dollars, they said.

Deliberations are ongoing and details such as the size and timing of the potential offering haven’t been finalized, the people said.

Spring Airlines didn’t respond to requests for comment outside of office hours, with mainland markets and companies closed for the holidays. JPMorgan and UBS declined to comment.

Spring Airlines, which made its inaugural flight two decades ago, already trades in Shanghai, where its shares have fallen about 7 percent this year, compared with a 16 percent gain by the Shanghai Composite Index. The airline’s market capitalization is 52.3 billion yuan ($7.3 billion).

Spring Airlines has 134 aircraft flying more than 190 domestic routes and over 50 international and regional routes in Asia, its website shows. The company’s net income totaled 1.17 billion yuan in the first half, down 14 percent from a year earlier. Revenue rose 4.3 percent to 10.3 billion yuan.

Investors are showing interest in mainland companies, prompting many to consider share sales in the HKSAR to raise funds to finance their growth.

Spring Airlines has been more consistent in posting profit than the country’s main carriers — Air China Ltd, China Eastern Airlines Corp and China Southern Airlines Co. Those three are listed in both Shanghai and the HKSAR.