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Alibaba may opt for sole Hong Kong listing over US

Likely to seek public listing later this year and may reject US markets due to stringent regulatory requirements.

Chinese e-commerce firm Alibaba is considering to list in the Hong Kong stock exchange, shunning the US, as it mulls to go public later this year.

The e-commerce firm is expected go for public listing in the final quarter of fiscal 2013 and its value could be between $60bn and $70bn, reports Financial Times.  

This could be a big blow to international exchanges such as the US which have been eyeing to host as it is expected to be one of the biggest IPOs of this fiscal.

The firm has so far neither appointed banks to look into the listing process nor is said to have made a final decision on the location to list.

Bankers from the US and Asia which held talks with Alibaba, however, have ruled out listing in the US, the newspaper reports.

Primary factors that may prompt Alibaba from rejecting the US listing could be the stringent regulatory and accounting requirements and the firm may not be interested in divulging too much information for scrutiny.

Earlier, Alibaba had listed its business-to-business sales division with Hong Kong stock exchange, but last year it went private and now is mulling to list the entire group.

For Chinese firms planning for an IPO, the US has been a popular listing venue, but the growing tensions between the two countries and concerns over the financial prospects have significantly reduced the momentum. Consequently, last year only a handful of Chinese companies were left floating in the US markets.