Alibaba Plans to List in Hong Kong, Source Says

(Hong Kong) – Chinese e-commerce giant Alibaba Group intends to go public in Hong Kong, a source close to the matter says.

The plans for the company's IPO are in their infancy, the source said.

Bloomberg reported on January 16 that Alibaba invited Credit Suisse and Goldman Sachs as its underwriters. The IPO launch was likely to come this year and was expected to raise US$ 3 billion to US$ 4 billion.