Alibaba picks New York Stock Exchange for U.S. IPO - report

SAN FRANCISCO (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd has decided to list on the New York Stock Exchange, Bloomberg cited a person with knowledge of the matter as saying on Thursday, 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, Bloomberg reported. The company was not immediately available for comment.

 

(Reporting by San Francisco Newsroom; Editing by James Dalgleish)