Alibaba chooses US over HK for IPO

The Chinese e-commerce company said listing its shares in New York will help make it more of a global group but that it will continue to eye developments in Hong Kong.

Alibaba Group has decided to pursue its long-awaited blockbuster initial public offering of shares in the US instead of Hong Kong, the company said on Sunday.

The e-commerce company whose IPO this year could fetch as much as $15 billion said listing in the US will make it more of a global company and enhance its transparency, as well as allow the company to pursue its long-term vision and ideals.

It is targeting an IPO in the third quarter and could start filing paperwork with US regulators as early as April, according to media reports.

Alibaba said it may consider a dual listing...

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