Alibaba Picks NYSE For U.S. IPO: Report

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Alibaba Picks NYSE For U.S. IPO: Report

Wochit 0:41 mins

Chinese e-commerce giant Alibaba Group has decided to list on the New York Stock Exchange dealing a blow to the rival Nasdaq bourse. The company, which handles more than 80 percent of online retail transactions in the world's second-largest economy, is expected to make its debut this summer in what could be the largest U.S. tech initial public offering. Alibaba could announce its decision in an amended IPO prospectus as soon as Thursday.

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