By and  on March 16, 2014

Chinese e-commerce giant Alibaba said Sunday it is pursuing an initial public offering in the U.S., setting the stage for a highly anticipated IPO that could raise more than $15 billion.

The announcement follows a series of press reports stating that the company was preparing for a New York stock market listing, although a source familiar with the offering said Alibaba has not yet made a final decision on an exchange. The IPO is slated for the third quarter, the source added.

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