Alibaba Group has started the process toward an initial public offering (IPO) in the United States, Shanghai Securities News reported Monday, citing a microblog post by the company. The deal could be worth up to US$18 billion, several analysts were quoted as saying. That would surpass the US$16 billion Facebook IPO in 2012, a record for an internet company. Alibaba decided to list in the US after failing to convince Hong Kong regulators to allow management to keep control of the company after the share offering, the report said.
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