Alibaba eyes US IPO -- report

The company could be heading to the New York Stock Exchange, according to a new report.

Alibaba Group, China's largest e-commerce company, might be passing up the Hong Kong Exchange in favor of going public in the US.

According to a Bloomberg report Wednesday that cited people who claim to have knowledge of company plans, Alibaba is in talks with US law firms to start the process of going public in the States. The company likely will choose the New York Stock Exchange if it follows through on its plans.

According to Bloomberg, Alibaba founder Jack Ma wanted to have dual shareholder voting classes to solidify his control over the company. The Hong Kong Exchange, however, doesn't allow for such an arrangement. The NYSE does.

Alibaba has yet to make a final decision on the matter, according to Bloomberg's sources, but it could appoint underwriters and start the process of going public in the US by the end of 2013.

About the author

Don Reisinger is a technology columnist who has covered everything from HDTVs to computers to Flowbee Haircut Systems. Besides his work with CNET, Don's work has been featured in a variety of other publications including PC World and a host of Ziff-Davis publications.

 

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