The IPO may be the biggest since Facebook’s in 2012, according to analysts.
Chinese e-commerce giant Alibaba has revealed plans to file its initial public offering (IPO) in the US, which is said to be the biggest US IPO since Facebook’s flotation in 2012.
Alibaba, which is one of the world’s biggest internet companies, is expected to raise up to $15bn (£9bn).
In a statement, the firm said: "This will make us a more global company and enhance the company’s transparency, as well as allow the company to continue to pursue our long-term vision and ideals.
"Should circumstances permit in the future, we will be constructive toward extending our public status in the China capital market in order to share our growth with the people of China."
Alibaba, which began as a service to link Chinese suppliers with retailers abroad, had previously abandoned plans for an IPO in Hong Kong after the semi-autonomous Chinese financial centre’s stock exchange refused to change its rules to accommodate the company’s management structure.
Yahoo, the majority stake holder in Alibaba, is expected to benefit from the move.
