Mubasher: Uber has chosen the New York Stock Exchange for its blockbuster initial public offering (IPO), according to Bloomberg.

Uber is set to file for its offering next April, kicking off a listing that could see the ride-hailing giant valued at up to $120 billion and could be the largest this year, a source familiar with the matter told the news agency.

With this valuation, the company would have to float only around 16% of its shares, making it one of the five biggest listings of all time.

Uber chose Wall Street as its trading floor, unlike its rival Lyft which would start trading next week on the Nasdaq Global Select Market.

Both companies submitted confidentially their IPO documents to the Securities and Exchange Commission (SEC) on the same day in December.